S&P: BAA Funding notes A-

Standard & Poor's said it assigned an A- credit rating to BAA Funding Ltd.'s €700 million class A16 note issuance under the issuer's £50 billion multi-currency program.

The outlook is stable.

The €700 million notes have an annual interest rate of 4.375% and a legal final maturity of 2019.

BAA Funding is designed to consolidate debt for BAA Ltd.'s core portfolio under a single program of debt issuance, S&P said.

Further debt issuance, including bank debt and rated notes, is permitted, 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.