Moody's rates Anglian Water (Osprey) notes Ba3

Moody's Investors Service said it assigned a provisional Ba3 rating to the proposed £200 million, five-year notes to be issued under the £1 billion guaranteed secured medium-term note program of Anglian Water (Osprey) Financing plc, a financing subsidiary of Osprey Acquisitions Ltd.

The outlook is stable.

The rating on the notes reflects the low business risk profile of Osprey Acquisitions' principal subsidiary, Anglian Water Services Ltd., as the monopoly provider of water and wastewater services in its area, Moody's said.

The rating also considers the stable and transparent regulatory framework for the water sector in England and Wales, the agency added, and the high level of gearing at Anglian Water and other debt in the group.

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