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Artesian Finance III PLC Bonds Assigned 'AAA' Senior Secured Rating Dec 05
Standard & Poors, Dec 2005
Abstract
MADRID (Standard & Poor's) Dec. 14, 2005--Standard & Poor's Ratings Services said today it has assigned its 'AAA' rating to the -750 million senior secured bond program of Artesian Finance III PLC (AFIII), and the -111.4 million guaranteed 3.75% series 1 index-linked senior secured bonds due 2045, which will be issued under the program. The 'AAA' rating reflects the unconditional and irrevocable guarantee of payments of principal and interest to bondholders provided by Financial Security Assurance (U.K.) Ltd. (FSA; AAA/Stable/--). AFIII is a U.K.-based water sector financing company and, like its related entities Artesian Finance PLC and Artesian Finance II PLC (AFII), was established to facilitate the issuance of bonds on behalf of U.K. regulated water companies. AFIII will use...
Companies mentioned in this report are: Artesian Finance III PLC,The Royal Bank of Scotland PLC,Assured Guaranty (Europe) Ltd.,South Staffordshire Water PLC,South Staffordshire PLC
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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