S&P assigns American Water notes A-

Standard & Poor's said it assigned its A- senior unsecured rating to American Water Capital Corp.'s proposed $750 million of notes due 2017 and $750 million of notes due 2037.

The new notes do not include certain transfer restrictions included in the original notes, the agency said, adding that otherwise, the terms of the new notes are substantially identical to the existing notes.

S&P added that the ratings on the existing notes will be withdrawn on completion of the exchange offer, noting that the A- rating on the company remains on CreditWatch with negative implications.

© 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.