Mubasher: Moody's Investors Service assigned a provisional long-term (P) A2 rating to $400 million of fully amortising senior secured bonds due 2035 to be issued by Emirates Sembcorp Water & Power Company.
The ratings agency also said that the outlook on the rating is stable, according to a report issued on Tuesday.
Moody’s issues provisional ratings in advance of the signing of documentation and these ratings reflect its preliminary credit opinion regarding the transaction only.
“We will assign a definitive rating to the Bonds. Definitive ratings may differ from provisional ratings,” the report noted.