Saudi Electricity sukuk earns A1 rating
Moody's also gives provisional A1 rating to proposed sukuk issuance.
Moody's Investors Service has affirmed the A1 long-term issuer rating of Saudi Electricity Company (SEC) and the A1 ratings on the sukuks issued under Saudi Electricity Global SUKUK Company and Saudi Electricity Global SUKUK Company 2.
Concurrently, Moody's has assigned a provisional (P)A1 rating to the proposed sukuk issuance by Saudi Electricity Global SUKUK Company 3 ("SEGSC3"), a special purpose vehicle of SEC. The outlook on the ratings is stable.
Moody's issues provisional ratings in advance of the final sale of securities and these ratings reflect Moody's preliminary credit opinion regarding the transaction only.
Upon a conclusive review of the final documentation, Moody's will endeavour to assign a definitive rating to the Notes. A definitive rating may differ from a provisional rating.