Moody's turns Sindicatum view to stable

Moody's Investors Service said it revised the outlook on Sindicatum Renewable Energy Co. Pte Ltd.'s green bonds to stable from negative, following the change in outlook on GuarantCo, which guarantees the bonds, to stable from negative on Thursday. The agency also affirmed Sindicatum's A1 backed senior unsecured ratings.

Sindicatum's bonds ratings are in line with GuarantCo's issuer rating and reflect an assessment that the terms of GuarantCo's guarantee are sufficient for credit substitution, Moody’s said.

Sindicatum's bonds are denominated in Indian rupee or Philippine peso but are settled in U.S. dollars The proceeds from the bonds' issuance were used to fund Sindicatum's renewable energy projects in India and the Philippines.

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