Moody's assigns Baa1, rating to CFE bonds

Bnamericas Published: Monday, April 20, 2009
Moody's has assigned its Baa1 global and domestic scale ratings to Mexican power company CFE's proposed debt issues worth a combined 4bn pesos (US$298mn), the ratings agency said in a report. The proposed debt sale would be the sixth and seventh drawdowns under CFE's debt program operated through a HSBC trust. Moody's has affirmed the program's Baa1 and ratings with a stable outlook. The ratings largely reflect CFE's status as a government-controlled company despite the fact that the Mexican government does not guarantee CFE's debt obligations, the ratings agency said. "Moody's believes that there is a 'high' likelihood of government support." For a full copy of the Moody's report, go to this link

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