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Abu Dhabi National Energy Company Proposed Senior Unsecured Medium-Term Note Program Rated 'A-' Nov 11
Standard & Poors, Nov 2011
Abstract
OVERVIEW We are assigning an 'A-' issue rating to Abu Dhabi National Energy Company's (TAQA) proposed $9 billion medium-term note (MTN) program. The proposed program is an update of an earlier program dated September 2009, with no material changes to the terms and conditions. The one-notch differential between the 'A' corporate credit rating on TAQA and the MTN program rating reflects our view of the structural subordination of the notes given the level of the secured debt within the TAQA group. DUBAI (Standard & Poor's) Nov. 24, 2011--Standard & Poor's Ratings Services said today it assigned an 'A-' long-term debt rating to Abu Dhabi National Energy Company PJSC's (TAQA) proposed $9 billion medium-term note (MTN) program. The program ranks pari...
Companies mentioned in this report are: Abu Dhabi National Energy Co. PJSC
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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