Fitch Affs Exp Rtgs On Various Anglian Water Entities.Business Editors LONDON--(BUSINESS WIRE)--Aug. 2, 2002 Fitch Ratings announces the following rating actions in relation to various Anglian Water group entities, following the completion of certain transfers of debt to, and completion of, the Anglian Water Services Finance plc financing, and AWG (American Wiring Gauge) A U.S. measurement standard of the diameter of non-ferrous wire, which includes copper and aluminum. In general, the thicker the wire, the greater the current-carrying capacity and the longer the distance it can span. plc's proposed c.GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 500m return of capital to its shareholder. Following Fitch's review of final documentation and legal opinions, Fitch affirms the following expected ratings for various classes of bonds issued under the multi-currency EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 10 billion MTN MTN A short-form for Medium Term Note. MTN Medium term notes issued by corporations, much like shorter-term commercial paper. MTN See medium-term note (MTN). Programme of Anglian Water Services Finance PLC ('AWSF'), a ring-fenced subsidiary of AWG plc: --GBP1,014 million Class A Wrapped Bonds, Fixed and Index-Linked, rated 'AAA'. --These Class A Bonds are wrapped by MBIA MBIA Montana Building Industry Association MBIA Municipal Bond Insurance Association MBIA Michigan Boating Industries Association MBIA Municipal Bond Investors Assurance MBIA Massachusetts Brain Injury Association MBIA Maryland Business Incubation Association , rated 'AAA' by Fitch Ratings. --GBP2,016m total including Class A Unwrapped Bonds, Fixed, and Index-Linked, rated 'A-' (A minus). -- GBP449m Class B Unwrapped Bonds, Fixed and Floating, rated 'BBB'. Fitch's ratings of 'A / F1' for AWS are withdrawn for Anglian Water Services Limited ('AWS') and AWG plc ('AWG'), given that all of the regulated subsidiary's debt has been novated to the new structured vehicle. The debt includes previous debt obligations of AWS, and AWG, which debtholders have agreed to transfer to AWSF AWSF Aids Walk San Francisco AWSF Australian Water Ski Federation . In addition, Fitch has withdrawn ratings of 'A-' and 'F2' at the request of the company. Concerning AWG (recently renamed AW Limited) - AWG will continue to focus on utility services, international water, as well as the facilities and project management activities, and whole-life asset management. For detailed various facets of AWSF's structured transaction, please refer to Fitch's press release dated 04 April 2002, titled 'Anglian Water Services Finance PLC'. This release is available on the Fitch Ratings Web site at 'www.fitchratings.com'. |
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