Reuters: Financial Services and Real Estate: TEXT-S&P summary: Abu Dhabi National Energy Co. PJSC

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TEXT-S&P summary: Abu Dhabi National Energy Co. PJSC May 7th 2012, 08:09 Mon May 7, 2012 4:09am EDT (The following statement was released by the rating agency) May 07 - ============================================================================== Summary analysis -- Abu Dhabi National Energy Co. PJSC ------------ 07-May-2012 =============================================================================== CREDIT RATING: A/Stable/NR Country: United Arab Emirates Primary SIC: Holding companies, nec Mult. CUSIP6: 00386S Mult. CUSIP6: 00388W Mult. CUSIP6: 00389F =============================================================================== Credit Rating History: Local currency Foreign currency 16-Dec-2010 A/NR A/NR 08-Jul-2009 NR/NR NR/NR 05-Jul-2007 AA-/A-1+ AA-/A-1+ =============================================================================== Issues: Rating Rating Date MYR3.5 bil med-term note Prog 10/06/2011: sr unsecd A- 10-Oct-2011 US$9 bil med-term note Prog 09/08/2009: sr unsecd A- 24-Nov-2011 US$750 mil 5.875% nts ser 8 due 12/13/2021 A- 13-Dec-2011 US$750 mil 4.125% nts ser 7 due 03/13/2017 A- 13-Dec-2011 US$1 bil 6.6% med-term nts ser 3 due 08/01/2013 A- 04-Jan-2012 US$500 mil 6.165% med-term nts due 10/25/2017 A- 04-Jan-2012 EUR750 mil 4.375% nts due 10/28/2013 A- 04-Jan-2012 US$500 mil 7.25% med-term nts ser 4 due 08/01/2018 A- 04-Jan-2012 US$1.5 bil 5.62% med-term nts due 10/25/2012 A- 04-Jan-2012 US$1.2 bil 4.75% med-term nts ser 5 due 09/15/2014 A- 04-Jan-2012 US$500 mil 6.25% med-term nts ser 6 due 09/16/2019 A- 04-Jan-2012 US$1 bil 5.875% nts due 10/27/2016 A- 04-Jan-2012 US$1.5 bil 6.5% nts due 10/27/2036 A- 04-Jan-2012 Rationale The ratings on Abu Dhabi National Energy Company PJSC (TAQA) reflect the company's position as a key entity in the economy of the Emirate of Abu Dhabi (AA/Stable/A-1+). TAQA is the majority owner of critical power and water desalination assets, and its importance as a vehicle for global investment and public policy supports the ratings, in Standard & Poor's Ratings Services' view. Link this Share this Digg this Email Reprints

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