S&P rates FSL Issuer bonds AA

S&P said it assigned an AA rating to FSL Issuer SAU’s planned €309.8 million of senior secured, fully amortizing, fixed-rate notes, due Dec. 31, 2041, and directly or indirectly lend the proceeds to nine solar power project companies to refinance their debt.

The project companies will repay their loans with revenues from their photovoltaic power plants and the servicer will use those payments to service the bonds.

The notes will be guaranteed by Assured Guaranty (Europe) SA.

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