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Moody’s rates Sindicatum green bonds A1
Moody's Investors Service said it assigned an A1 rating to the proposed green bonds to be issued by Sindicatum Renewable Energy Co. Pte Ltd. and guaranteed by GuarantCo (A1 stable).
The outlook is stable.
The bonds are denominated in Indian rupees but are settled in dollars.
Proceeds will be used to fund Sindicatum's renewable energy projects in India (Baa2 stable) and to refinance existing debt.
Moody’s said the A1 rating assigned to Sindicatum's bonds is in line with GuarantCo's A1 issuer rating and reflects the agency’s belief that the terms of GuarantCo's guarantee, which is unconditional and irrevocable, are sufficient for credit substitution.
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