Markets

S&P assigns stable rating to PFC's proposed USD notes

PTI New Delhi | Updated on January 24, 2018

Standard & Poor’s Ratings Services today assigned its ‘BBB—’ long-term issue rating to a proposed USD denominated unsecured notes by the state-run Power Finance Corporation (PFC).

“Standard & Poor’s Ratings Services assigned its ‘BBB—’ long-term issue rating to a proposed issue of US dollar denominated senior unsecured notes by Power Finance Corp (PFC: BBB—/Stable/——),” Standard & Poor’s Ratings Services said in a statement.

‘BBB—’ is a stable rating and the notes shall at all times rank at par among themselves and with all other unsecured obligations of the company, it added.

Rating on the notes reflects the long-term counter-party credit rating on PFC, it said.

The proposed notes will constitute direct, unconditional, unsecured, and unsubordinated obligations of PFC.

“Rating on the notes is subject to our review of the final issuance documentation,’’ the statement added.

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Published on June 18, 2015
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