S&P rates GLP Pte. bond AA

S&P said it assigned its AA long-term issue rating to GLP Pte. Ltd.’s yen-denominated bond.

“We equalize the issue rating on the bond with the long-term foreign currency issuer credit rating on the guarantor, Credit Guarantee and Investment Facility (CGIF; foreign currency AA/stable/A-1+), a trust fund of the Asian Development Bank. The issue rating is based on CGIF's unconditional, timely and irrevocable guarantee,” S&P said in a press release.

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