Moody’s rates AES Andes notes Baa3

Moody's Investors Service said it assigned a Baa3 rating to AES Andes SA’s planned senior unsecured notes for up to $500 million due in 2028 and affirmed AES Andes' Baa3 senior unsecured rating and the Ba2 junior subordinate notes rating.

The agency also affirmed the Ba1 rating on Mercury Chile Holdco LLC's backed senior secured notes, an indirect holding company of AES Andes.

AES Andes will employ the notes for its liability management strategy and to support its green energy investments. Concurrently, AES Andes will offer to buy for cash any of the $117.5 million outstanding under the 5% senior notes due 2025and a capped offer of up to $100 million for the $328.4 million outstanding under the 6.35% junior subordinate notes due 2079.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.