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Prospect News home > News index > List of issuers A > Headlines for Abu Dhabi National Energy Co. PJSC (TAQA) > News item |
Fitch rates Abu Dhabi’s TAQA debt A
Fitch Ratings said it assigned Abu Dhabi National Energy Co. PJSC (TAQA) a senior unsecured rating of A.
The senior unsecured rating is in line with the long-term foreign-currency issuer default rating of A with a stable outlook.
The bonds are direct and unsecured obligations of TAQA, which rank pari passu with all other outstanding present and future unsecured and unsubordinated obligations.
The terms, conditions and covenants of the bonds issued in 2006 and 2012 mirror those of TAQA's global medium-term note program. The bonds issued by TAQA have a change of control clause if government ceases to own and control more than 50% (directly or indirectly), cross-acceleration, and negative-pledge covenants.
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