Saudi Gazette - SABIC Capital planned bonds get high rating:
"Fitch Ratings has assigned SABIC Capital II B.V.'s proposed $1 billion 2.625 percent guaranteed bonds an expected senior unsecured 'A+ (EXP)' rating. The rating is in line with Saudi Basic Industries Corporation's (SABIC; A+/Stable/F1) senior unsecured 'A+' rating.
The bonds' final rating is contingent on the receipt of final documentation conforming to information already received and further details regarding the amount and tenor of the notes.
The bonds will benefit from a direct, unconditional, general and irrevocable guarantee from SABIC (the guarantor). The guarantee will be a senior unsecured obligation of SABIC and will rank at least pari passu with all its existing and future senior unsecured and unsubordinated obligations.
SABIC Capital II B.V. (the issuer) is an indirect wholly owned subsidiary of SABIC incorporated in the Netherlands as a private limited liability company."
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