Fitch rates SUEK notes BB

Fitch Ratings said it assigned SUEK Securities DAC’s planned guaranteed notes an expected senior unsecured rating of BB. The recovery rating is RR4.

The notes will be used for the sole purpose of financing a loan to SUEK or its group companies. The notes will be guaranteed by SUEK and its major coal-producing entities. SUEK will use the proceeds to refinance debt.

“We view the proposed guarantee structure as comparable to that of SUEK's major existing debt facilities including pre-export finance facility. The notes will rank pari passu with all other unsubordinated and unsecured indebtedness of SUEK,” Fitch said in a press release.

The outlook is stable.

© 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.