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'AA-' Rating Assigned to RWE AG's Euro 5 Billion Debt Issuance Program Mar 01
Standard & Poors, March 2001
Abstract
LONDON (Standard & Poor's CreditWire) March 26, 2001--Standard & Poor's today assigned its double-'A'-minus senior unsecured debt rating to the upcoming -5 billion debt issuance program of RWE AG (RWE), the parent holding company of the Germany-based utility group, and RWE Finance B.V., an issuing vehicle guaranteed by RWE. The program will be used to refinance the debt-funded portion of the company's recent acquisition of Thames Water PLC (A+/Watch Pos/A-1), and for future general corporate purposes. The ratings reflect RWE's strong business position as one of Europe's largest utilities and its very strong financial profile. These factors are partly offset by higher business risks in its other divisions, uncertainties associated with the company's expansion program, and the ultimate impact of...
Companies mentioned in this report are: RWE AG,RWE Thames Water PLC,RWE Finance B.V.
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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