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BRIEF-S&P says Emirates Sembcorp Water & Power Co proposed senior secured bonds assigned preliminary 'A-'rating
November 8, 2017 / 9:50 AM / a month ago

BRIEF-S&P says Emirates Sembcorp Water & Power Co proposed senior secured bonds assigned preliminary 'A-'rating

Nov 8 (Reuters) - S&P -

* EMIRATES SEMBCORP WATER & POWER CO PROPOSED SENIOR SECURED BONDS ASSIGNED PRELIMINARY ‘A-‘RATING; OUTLOOK STABLE

* ASSIGNED ITS PRELIMINARY ‘A-’ LONG-TERM RATING TO $400 MILLION SENIOR SECURED BONDS MATURING AUG. 1, 2035, TO BE ISSUED BY EMIRATES SEMBCORP WATER & POWER CO (ESC)

* PRELIMINARY ‘A-’ RATING REFLECTS ITS ‘BBB’ ASSESSMENT OF ESC‘S OPERATIONS-PHASE STAND-ALONE CREDIT PROFILE

* PRELIMINARY ‘A-’ RATING REFLECTS OPINION THAT THERE IS MODERATELY HIGH LIKELIHOOD THAT EMIRATE OF ABU DHABI WOULD PROVIDE TIMELY AND SUFFICIENT EXTRAORDINARY SUPPORT TO ESC IN EVENT OF FINANCIAL DISTRESS

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