Feb 12 2013 |
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Fitch asserts SEC outlook 'Stable'
RIYADH - Fitch Ratings has affirmed Saudi Electricity Company 's ( SEC ) Long-term Issuer Default Rating (IDR) and senior unsecured rating at 'AA-'. The Outlook on the Long-term IDR is Stable. Fitch has also affirmed SEC 's Sukuk issues at 'AA-'.SEC 's ratings are aligned with the Kingdom of Saudi Arabia ('AA-'/Stable), based on strong legal, operational, and strategic links, in accordance with Fitch's Parent and Subsidiary Rating Linkage methodology.
SEC will spend approximately SR150 billion through 2015 on various segments of the electricity infrastructure in the Kingdom.
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