Moody's assigns Aaa bond ratings to PSA

Moody's Investors Service said it assigned a foreign currency bond rating of Aaa to the proposed bonds to be issued by PSA International for general corporate purposes and refinancing of existing debt, including the bridge loans in connection with the Hutchison Ports investment.

Moody's said the Aaa rating is the result of its expectation of a high level of support from Temasek; the dependency between PSA and Temasek is low; and baseline credit analysis rating of 3 on a scale of 6 where 1 represents the lowest credit risk.

Moody's said it expects Temasek to fully support PSA, which is a world-class port operator and important to Singapore both strategically and reputation-wise.

© 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.