S&P assigns Vena Energy Capital BBB-

S&P said it assigned its BBB- rating to Vena Energy Capital Pte. Ltd. The company is the issuer of senior unsecured notes under a guaranteed euro medium-term note program. The notes will be guaranteed by three co-guarantors, which receive cash distributions from their nonrecourse operating subsidiaries (collectively known as Vena Energy Group) to service the debt and make other capital allocation payments.

The group benefits from a diversified portfolio of solar and wind farms that is mostly contracted with central government or state level utilities under long-term power purchase agreements.

The outlook is stable.

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