Artesian Finance PLC £66.5 Mil. Sterling Bonds Assigned 'AAA' Rating Jun 02
- ID: 1858299
- June 2002
- Standard & Poors
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
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Research type: News
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