Moody's rates Temasek notes Aaa

Moody's Investors Service said it assigned an Aaa rating to the 20-year S$300 million and 30-year S$300 million senior unsecured fixed-rate notes to be issued by Temasek Financial (I) Ltd., a wholly-owned financing subsidiary of Temasek Holdings (Pvt) Ltd.

The outlook is stable.

These notes are irrevocably and unconditionally guaranteed by Temasek and are pursuant to its $5 billion medium-term note program. The proceeds will be used for general corporate purposes.

The rating reflects Temasek's strong financial profile at the holding company level, Moody's said.

The rating is underpinned by its low level of both book and market-value based leverage, its excellent liquidity position and its high quality investment portfolio, the agency said.

© 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.