Fitch assigns Saudi Electricity sukuk A-

Fitch Ratings said it assigned Saudi Electricity Co.’s green sukuk certificates, $650 million due 2025, and $650 million due 2030, issued through Saudi Electricity Global Sukuk Co. 5, a final rating of A-. The rating is in line with Saudi Electricity Co.’s long-term issuer default rating and senior unsecured rating of A-.

Proceeds will finance and, or refinance in whole or in part green projects focused on procurement and installation of smart meters and construction and operation of infrastructure for connecting renewable energy sources to the grid, as further described in the company’s green sukuk framework.

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