Fitch: Sabic Capital bonds A+

Fitch Ratings said it has assigned Sabic Capital I BV's $750 million of 2.75% seven-year senior unsecured guaranteed bonds an A+ rating.

The rating is in line with Saudi Basic Industries Corp.'s (A+/stable/F1) senior unsecured A+ rating.

The proceeds are to be used for general corporate purposes, including loans to companies of Sabic Group outside Saudi Arabia, and to repay some of the group's outstanding debt, the agency noted.

© 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.