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Artesian Finance ?149 Mil Series 6 Bond Rated AAA; Total Issuance Under Program Now ?426.7 Mil Jun 04
Standard & Poors, June 2004
Abstract
PARIS (Standard & Poor's) June 30, 2004--Standard & Poor's Ratings Services said today that it has assigned its 'AAA' long-term debt rating to Artesian Finance PLC's (AF) incremental -149 million guaranteed series 6 index-linked senior secured bond due September 2032, issued under AF's -750 million program. The series 6 issue is fully fungible with all existing issues, as well as with future issues. The total bond issuance under the program is now -426.7 million. The 'AAA' rating reflects the financial guarantee of scheduled payments of principal and interest to bondholders provided by Financial Security Assurance (U.K.) Ltd. (FSA; AAA/Stable/--). AF is a U.K.-based water sector financing company, established to facilitate the issuance of bonds on behalf of U.K. water companies....
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.
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