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C.A. La Electricidad De Caracas EUR150 Million Notes Rated 'B' Apr 01
Standard & Poors, April 2001
Abstract
NEW YORK (Standard & Poor's CreditWire) April 2, 2001--Standard & Poor's today assigned its single-'B' rating to C.A. La Electricidad De Caracas' (EDC) EUR150 million note issue, due in 2006. The notes will be a direct unsecured, unconditional obligation of the issuer--EDC. The outlook is stable. At the same time, Standard & Poor's has assigned a single-'B' foreign currency corporate credit rating to EDC. The outlook is stable. EDC is an 87% owned subsidiary of U.S.-based AES Corp. (double-'B'/Watch Positive). The single-'B' rating on EDC's EUR150 million notes reflects: -- The risks of operating in the Republic of Venezuela; -- A still incomplete and untested regulatory regime; -- Historical resistance to rate adjustments; -- The lack of a formal concession...
Companies mentioned in this report are: C.A. La Electricidad De Caracas ,AES Corp. (The)
Action: New Rating
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.
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