| Title: | C.A. La Electricidad De Caracas' $650 Million Notes Assigned 'BB-' Rating; Outlook Stable |
| Price: | $100.00 |
| Publication Date: | Apr 30, 2008 |
| Report Type: | News |
| Abstract: | MEXICO CITY (Standard&Poor's) April 30, 2008--Standard&Poor's Ratings Services said today that it assigned its 'BB-' rating to C.A. La Electricidad De Caracas' (EDC) $650 million senior unsecured notes due 2018. We also assigned our 'BB-' local currency corporate credit rating to EDC. At the same time, we affirmed our 'BB-' foreign currency corporate credit rating on EDC. We also affirmed our 'BB-' senior unsecured debt rating on Electricidad de Caracas Finance B.V.'s (EDC Finance) notes due 2014. The outlook is stable. EDC used the proceeds to fund EDC Finance's repurchase of 94.94% of its $260 million notes due 2014 for capital expenditures and for corporate purposes. This issuance allowed EDC to eliminate all of the restrictive |
| Brief Excerpt: | RESEARCH Ratings Definitions C.A. La Electricidad De Caracas' $### Million Notes Assigned '##-' Rating; Outlook Stable Publication date: ##-Apr-#### Primary Credit Analyst: Marcela Duenas, Mexico City (##) ##-####-####; marcela_duenas@standardandpoors.c... |
| Word Count: | 881 |
| Ticker: | EDC@VC |
| Issuer: | C.A. La Electricidad De Caracas |
| GICS: | Electric Utilities (55101010) |
| Sector: | Global Issuers, Corporations, Utilities, Electric |
| Country: | Venezuela |
| Region: | United States |
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