|
|
 |
|
Viewing report
|
|
|
|
Bulgaria-Based Generator TPP Maritsa East 2 EAD Rated 'BB'; Outlook Stable Feb 04
Standard & Poors, Feb 2004
Abstract
STOCKHOLM (Standard & Poor's) Feb. 3, 2004--Standard & Poor's Ratings Services said today it assigned its 'BB' long-term corporate credit rating to Bulgaria-based generator TPP Maritsa East 2 EAD. The outlook is stable. 'The rating on TPP Maritsa East 2 reflects the risk of operating a single-asset plant undergoing major upgrading, the transition economy features of the Bulgarian market, as well as financial risks relating to increased indebtedness, and interest rate and foreign exchange exposure,' said Standard & Poor's credit analyst Andreas Zsiga. 'These risks are mitigated by a protective power purchase agreement (PPA) with the 100% state-owned power company Natsionalna Elektrichseska Kompania EAD (NEK), competitive generation costs, and by TPP Maritsa East 2's strategic importance to the government.' This...
Companies mentioned in this report are: TPP Maritsa East 2 EAD,European Investment Bank,Japan Bank for International Cooperation (Old),Bulgaria (Republic of)
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.
|
|
|
|
