Fitch rates Power Finance bond BBB-

Fitch Ratings said it assigned Power Finance Corp. Ltd.'s planned Regulation S senior unsecured euro green bond a BBB- rating.

The bonds will be issued from the company’s global medium-term note program. Last month, Power Finance boosted the program to $8 billion from $5 billion.

“Both the program and the bond rating are aligned with PFC's issuer default rating (IDR) as the bond will constitute direct, unconditional, unsubordinated and unsecured obligation of PFC and will rank pari passu with all of the company's other present and future outstanding unsecured and unsubordinated obligations,” Fitch said in a press release.

The net proceeds of the bond will be lent to eligible green projects under the company's green bond framework.

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