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'AAA' Rating on Artesian Finance PLC Bonds Affirmed and Issue Increased by ?35.2 Mil. Aug 02
Standard & Poors, Aug 2002
Abstract
LONDON (Standard & Poor's) Aug. 22, 2002--Standard & Poor's Ratings Services said today it affirmed its triple-'A' debt rating on the -66.5 million ($101.7 million) guaranteed index-linked senior secured bonds due 2032, issued by Artesian Finance PLC (Artesian), a U.K.-based water sector financing company. At the same time, the existing bond issue was increased by -35.2 million. The triple-'A' rating assigned to the bonds reflects the financial guarantee of scheduled payment of principal and interest to bondholders provided by Financial Security Assurance (U.K.) Ltd. (FSA; local currency AAA/Stable/--). Artesian is issuing the bonds under its -500 million program that Standard & Poor's also rated triple-'A' (see related media release dated 26 June, 2002, on RatingsDirect, Standard & Poor's Web-based credit...
Companies mentioned in this report are: Artesian Finance PLC,The Royal Bank of Scotland PLC,Assured Guaranty (Europe) Ltd.,Friends Life Co. Ltd.
Action: Affirmed
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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