Friday 31st July 2015
NEWS TICKER, Thursday, July 30th:Standard & Poor's Ratings Services said today that it has assigned its 'B' long-term issue credit rating to the senior unsecured Eurobond issued by the Republic of Zambia (B/Stable/B). The bond issue totals $1.25bn and carries an interest rate of 8.97%. Coupon payments will be made bi-annually, and principal repayments will take place in three equal payments, due in 2025, 2026, and 2027. The bond will be Zambia's third international placement following its debut $750m bond in September 2012, at 5.375%, and a $1bn bond issue in April 2014 at 8.5%. Zambia will mainly use the proceeds of the eurobond for budgetary and project financing – ESMA, the European markets regulator has published responses to its consultation on virtual currencies and distributed ledger technology. The responses can be viewed on the regulator’s website -The second phase of Zambia's $828m Maamba power station project is close to being finalised according to trade press reports. The project sponsor is Maamba Collieries Limited (MCL), the largest coal mining company in Zambia. In 2011, MCL appointed SEPCO Electric Power Construction Corp (China), a large supplier of power generating plants, substations, and transmission lines, for implementation of the power project. The power will be sold to Zambia Electricity Supply Corporation (ZESCO) Limited. The 300 MW plant is planned for operation by 2016.

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Ratings agencies reaffirm EBRD's AAA status

Friday, 23 December 2011
Ratings agencies reaffirm EBRD's AAA status The AAA rating of the European Bank for Reconstruction and Development remains unchanged and the outlook for the bank's debt stock remains Stable. http://www.ftseglobalmarkets.com/

The AAA rating of the European Bank for Reconstruction and Development remains unchanged and the outlook for the bank's debt stock remains Stable.

 

The three leading international rating agencies -- Standard and Poor’s, Moody’s and Fitch -- have all reaffirmed their AAA ratings for the debt of the European Bank for Reconstruction and Development (EBRD), underscoring the Bank’s stability at a time of turbulence in financial markets.



In statements released in the last week, the agencies also described the outlook for the Bank’s debt as Stable.

They referred specifically to the EBRD’s strong capital position, which has been bolstered by a capital increase to which all of the EBRD’s major shareholders have now subscribed.

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