Rio Oil Finance Trust $1.0 Billion Fixed-Rate Notes Series 2014-1 Assigned Preliminary 'BBB-' Rating - S&P Global Ratings’ Credit Research

Rio Oil Finance Trust $1.0 Billion Fixed-Rate Notes Series 2014-1 Assigned Preliminary 'BBB-' Rating

Rio Oil Finance Trust $1.0 Billion Fixed-Rate Notes Series 2014-1 Assigned Preliminary 'BBB-' Rating - S&P Global Ratings’ Credit Research
Rio Oil Finance Trust $1.0 Billion Fixed-Rate Notes Series 2014-1 Assigned Preliminary 'BBB-' Rating
Published Jun 05, 2014
Published Jun 05, 2014
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About This Report

  
Abstract:

OVERVIEW Rio Oil Finance Trust's issuance is a securitization of all current and future royalty and special participation payments arising from offshore oil and natural gas production in the Rio de Janeiro state in Brazil. We assigned our preliminary 'BBB-' rating to the series 2014-1 notes. The rating reflects our view of the underlying assets, generated mostly by Petrobras' oil and gas payments to the federal government, among other factors. NEW YORK (Standard&Poor's) June 5, 2014--Standard&Poor's Ratings Services today assigned its preliminary 'BBB-' rating to Rio Oil Finance Trust's $1.0 billion fixed-rate notes series 2014-1. The note issuance is a securitization backed by current and future receivables generated from the State of Rio de Janeiro's (RJS')

  
Report Type:

Ratings Action

Issuer
Sector
Structured Finance
Country
Region
Latin America
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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MLA:
S&P Global Ratings’ Credit Research. "Rio Oil Finance Trust $1.0 Billion Fixed-Rate Notes Series 2014-1 Assigned Preliminary 'BBB-' Rating" Jun 05, 2014. Alacra Store. Nov 13, 2019. <http://www.alacrastore.com/s-and-p-credit-research/Rio-Oil-Finance-Trust-1-0-Billion-Fixed-Rate-Notes-Series-2014-1-Assigned-Preliminary-BBB-Rating-1329427>
  
APA:
S&P Global Ratings’ Credit Research. (). Rio Oil Finance Trust $1.0 Billion Fixed-Rate Notes Series 2014-1 Assigned Preliminary 'BBB-' Rating Jun 05, 2014. New York, NY: Alacra Store. Retrieved Nov 13, 2019 from <http://www.alacrastore.com/s-and-p-credit-research/Rio-Oil-Finance-Trust-1-0-Billion-Fixed-Rate-Notes-Series-2014-1-Assigned-Preliminary-BBB-Rating-1329427>
  
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