Reuters logo
3 years ago
RPT-Fitch Affirms National Power Corporation PSALM Notes
April 1, 2014 / 10:38 AM / 3 years ago

RPT-Fitch Affirms National Power Corporation PSALM Notes

(Repeat for additional subscribers)

April 1 (Reuters) - (The following statement was released by the rating agency)

Fitch Ratings has affirmed the notes of Philippines-based Power Sector Assets and Liabilities Management (PSALM) Corporation as listed below.

National Power Corporation PSALM Notes

USD500m fixed-rate notes due November 2016 affirmed at 'BBB-'; Outlook Stable

Key Rating Drivers

The rating on the notes is credit-linked to that of the Philippines as the notes are irrecoverably and unconditionally guaranteed by the Republic of Philippines. The rating action follows the affirmation of the Philippines' Long-Term Foreign Currency Issuer Default Rating at 'BBB-' with a Stable Outlook on 25 March 2014.

Rating Sensitivities

Changes to the Philippines' rating will result in a corresponding action on the notes' rating.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below