Moody's rates Eurasian Natural program Ba2

Moody's Investors Service said it assigned a provisional Ba2 (LGD 4, 50%) long-term rating and a non-prime short term rating to Eurasian Natural Resources Corp. plc's senior unsecured guaranteed $3 billion euro medium-term note program issued by ENRC plc and guaranteed by two principle operating subsidiaries.

The outlook is stable.

This follows the assignment of a Ba2 corporate family rating to the company and reflects the assumption that notes issued under the program will rank pari passu with other unsecured debt in the capital structure.

The ratings are subject to a review of final documents.

© 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.