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?255 Mil. EBRD Loan To Kazakhstan Electricity Grid Operating Co. Rated 'BB+' Jul 08
Standard & Poors, July 2008
Abstract
MOSCOW (Standard & Poor's) July 2, 2008--Standard & Poor's Ratings Services said today that it had assigned its 'BB+' long-term debt rating to a -255 million loan provided by the European Bank for Reconstruction and Development (AAA/Stable/A-1+) to Kazakhstan Electricity Grid Operating Co. (JSC) (KEGOC; BB+/Negative/--). The loan has a floating interest rate and consists of two parts: -- A loan of up to -127.5 million maturing in 15 years; and -- A loan of up to -127.5 million including three tranches: (a) -75 million maturing in 15 years; (b) -47.5 million maturing in 12 years; and (c) -5 million maturing in nine years. Under the loan's terms KEGOC, is subject to several financial covenants including: -- Total debt to...
Companies mentioned in this report are: Kazakhstan Electricity Grid Operating Co. (JSC),European Bank for Reconstruction and Development
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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