Moody's: ICE notes Baa3

Moody's Investors Service said it assigned a provisional Baa3 foreign-currency senior rating to Instituto Costarricense de Electricidad's proposed issuance of $250 million senior notes.

The outlook is stable.

Moody's said the rating reflects the company's ownership structure and linkages with the Government of Costa Rica. It also reflects Moody's assessment of a high-level probability of extraordinary support from the government and a high level of dependence, which reflects the degree to which Costa Rica is exposed to the same risks as those that would affect credit quality at the company.

© 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.