Moody’s assigns Baa3 to REC’s proposed senior unsecured note issue

Moody’s Investors Service has assigned a Baa3 rating to the Rural Electrification Corporation’s (REC) proposed senior unsecured notes, issued under its $3 billion medium-term note programme. The bonds will have a maturity of 10 years and will be listed on Singapore Exchange Securities Trading Limited and the International Securities Market of the London Stock Exchange. The rating has been assigned on the basis of the company’s baseline credit assessment and its association with the government.

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