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RWE Finance B.V. Proposed Euro Bonds Rated 'AA-'; On Watch Negative Apr 02
Standard & Poors, April 2002
LONDON (Standard & Poor's) April 10, 2002--Standard & Poor's said today it assigned its double-'A'-minus senior unsecured debt rating to the proposed multi-currency, multi-tranche bond issue of about -5 billion by RWE Finance B.V., an issuing vehicle for Germany-based electricity utility RWE AG (AA-/Watch Neg/A-1+). The bonds will be guaranteed by RWE and issued under its -15 billion debt issuance program. In addition, the rating on the bonds is on CreditWatch with negative implications. The rating on RWE Finance's proposed bond issue reflects those on its parent company RWE. The CreditWatch placement reflects RWE's bid for U.K.-based electricity generator and supplier Innogy PLC (BBB+/Watch Pos/A-2). "Any rating downgrade as a result of completion of the acquisition is likely to be...
Companies mentioned in this report are: RWE Finance B.V.,RWE AG,RWE Npower PLC
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.
RWE Finance B.V.,RWE AG,RWE Npower PLC