Fitch: State Grid notes A+

Fitch Ratings said it assigned final ratings of A+ to State Grid Europe Development (2014) plc’s €700 million 1½% guaranteed senior notes due 2022 and €300 million 2.45% guaranteed senior notes due 2027.

State Grid is a wholly owned subsidiary of State Grid International Development Ltd., which is a wholly owned subsidiary of State Grid Corp. of China.

The notes are rated at the same level as State Grid Corp.’s senior unsecured rating based on a keepwell deed that signals the group’s strong intention to ensure that State Grid Europe and State Grid International are able to honor their debt obligations, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.