11.04.2013 - Fitch affirms Saudi Electricity Sukuk at 'AA-,' outlook stable
Fitch Ratings has affirmed Saudi Electricity Company's (SEC) long-term issuer default rating (IDR) and senior unsecured rating at "AA-." The outlook on the long-term IDR is stable. Fitch has also affirmed SEC's sukuk issues at "AA-" and assigned the new $ 1 billion 3.473 percent due 2023 and $ 1 billion 5.06 percent due 2043 international sukuk issues a final rating of "AA-." SEC's affirmation at the "AA-" rating level with a stable outlook reflects Fitch's consideration of SEC against the broader global electric utility peer group, where it is currently among the highest rated entities, the residual risks and opportunities inherent in the sector; and the scale of the current investment program, including its expected weight upon SEC's balance sheet over the next few years. ..............................................Full Article: Source
Print