S&P rates Psalm notes BB-

Standard & Poor's said it assigned a BB- rating to the proposed issue of dollar senior unsecured notes by Power Sector Assets & Liabilities Management Corp.

Proceeds will be used for general corporate funding requirements, including servicing payments arising under contracts with independent power producers, the agency said.

The rating reflects the Philippine government's (foreign-currency BB-/stable/B; local-currency BB+/stable/B) irrevocable, unconditional and timely guarantee on the notes, S&P 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.