S&P rates Termopernambuco debentures
Bnamericas Published: Friday, October 28, 2005
Credit rating agency Standard & Poor's ( S&P) has assigned its brA- local scale rating to 450mn reais (US$197mn) of debentures Brazilian thermoelectric generator Termopernambuco plans to issue. Termopernambuco is part of the Neoenergia holding and will issue 400mn reais due 2011 and 50mn reais due 2013. Both series will be linked to the interbank deposit certificates (CDI) rate and their proceeds will be used to prepay a loan from the Inter-American Development Bank (IDB) and pay suppliers. Termopernambuco is a 520MW plant that started operations in May this year. To read S&P's full report on Termopernambuco in Portuguese, paste the following link into your browser: http://www.bnamericas.com/rc_search_detail.xsql?id_documento=72960&Tx_idioma=P
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