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Prospect News home > News index > List of issuers D > Headlines for Delek & Avner - Yam Tethys Ltd. > News item |
Moody's rates Delek notes Baa3
Moody's Investors Service said it assigned a prospective long-term rating of Baa3 to the approximately $275 million senior secured notes due 2013 to be issued by Delek & Avner - Yam Tethys Ltd.
The outlook is stable.
The issuer is a special purpose vehicle whose principal purpose is to issue the notes and lend the proceeds to various Delek group companies pursuant to sponsor loan agreements. The notes will be serviced by proceeds expected to be received pursuant to a gas sales contract with Israel Electric (Baa2, negative outlook); they are not guaranteed by the Delek companies, but are secured by collateral.
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