TAQA North's guaranteed bonds rated '(P)Aa2' - Moody's |
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Wed, 17 Oct 2007 12:22
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MUMBAI (Thomson Financial) - Moody's Investors Service said it has assigned '(P)Aa2' ratings with a stable outlook to bonds issued by oil and gas exploration company TAQA North Ltd, the Canadian subsidiary of Abu Dhabi National Energy Company.The bonds are unconditionally and irrevocably guaranteed by the parent and are rated at the same level as the guarantor. The ratings are provisional subject to finalisation of the offering prospectus, Moody's said.The bonds will be issued in Canadian dollars in three series to fund recent acquisitions in Canada, the ratings agency said.TFN.newsdesk@thomson.comans/jroCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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