Fitch affirms S.C termoelectrica notes

Fitch Ratings said it affirmed S.C termoelectrica SA $28,568,000 fiduciary notes and TPP $120 million FRN $17,140,000 fiduciary notes due in December 2007 at BBB with stable outlook.

The notes are issued by JP Morgan Bank Luxembourg SA as fiduciary, the agency said, adding that the affirmation follows Fitch's affirmation of Romania's long-term foreign currency issuer default rating at BBB with stable outlook on Sept. 28 as payments under the loans backing the notes are guaranteed by the Romanian sovereign.

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