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S&PCORRECT: Iberdrola Finanzas S.A.U.'s MXN5,000 Million In Notes Rated 'A-' Jul 08 Product Image

S&PCORRECT: Iberdrola Finanzas S.A.U.'s MXN5,000 Million In Notes Rated 'A-' Jul 08

  • ID: 1713448
  • July 2008
  • Standard & Poors

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Abstract
MEXICO CITY (Standard & Poor's) July 25, 2008--Standard & Poor's Ratings Services said today that it assigned its 'A-' senior unsecured debt rating to the Mexican pesos (MXN) 1,500 million notes due 2018, and MXN3,500 million notes due 2013 issued by Iberdrola Finanzas S.A.U. and guaranteed by Iberdrola S.A. (A-/Stable/A-2). It also affirmed the 'mxAAA' long-term issue rating on the CaVal scale assigned to the notes. Iberdrola will use proceeds from the notes for corporate expenses and to pay revolving credit lines. The rating on the notes reflects the unconditional and irrevocable guaranteed of payment provided by Iberdrola. The ratings on Iberdrola reflect the group's strong position as one of Spain's dominant vertically integrated electricity utilities and the regulated and...

Companies mentioned in this report are: Iberdrola Finanzas S.A.U.,Iberdrola S.A.
Action: New Rating

Iberdrola Finanzas S.A.U.,Iberdrola S.A.

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