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Artesian Finance PLC £66.5 Mil. Sterling Bonds Assigned 'AAA' Rating Jun 02 Product Image

Artesian Finance PLC £66.5 Mil. Sterling Bonds Assigned 'AAA' Rating Jun 02

  • ID: 1858299
  • June 2002
  • Standard & Poors

Abstract
LONDON (Standard & Poor's) June 26, 2002--Standard & Poor's said today it assigned its triple-'A' rating to the £66.5 million ($99.8 million) guaranteed indexed-linked senior secured bonds due 2032 issued by Artesian Finance PLC, a U.K. water sector financing company. Payments of interest and principal on the bonds, which are being issued out of a £500 million program, are unconditionally guaranteed by Financial Security Assurance (U.K.) Ltd. (FSA; local currency AAA/Stable/--). Standard & Poor's also assigned its triple-'A' rating to Artesian Finance's £500 million program. "Artesian Finance has been created to enable small U.K. water companies to indirectly access the public bond market," said Standard & Poor's credit analyst Anthony Flintoff. "It is a special purpose vehicle, which will issue...

Companies mentioned in this report are:
- Artesian Finance PLC
- The Royal Bank of Scotland PLC
- Assured Guaranty (Europe) Ltd.

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.

- Artesian Finance PLC
- The Royal Bank of Scotland PLC
- Assured Guaranty (Europe) Ltd.

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