S&P rates Adani Abbot notes BBB-

S&P said it assigned the BBB- long-term issue rating to Adani Abbot Point Terminal Pty Ltd.'s $500 million notes due in December 2022.

The outlook is stable.

The newly issued notes will rank pari passu with Adani Abbot's existing senior secured debt, and will benefit from the same security package, S&P said.

The proceeds will be used to fund a majority of the debt maturities due in November 2018, amounting to about A$976 million, the agency said.

The company is expected to complete the refinancing of the remaining maturities by April 2018, S&P said.

The stable outlook reflects expectations that Adani Abbot will manage its refinancing exposure and complete the refinancing of its upcoming maturities well ahead of time, 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.