TEXT-S&P rates proposed USD Saudi Electric trust certificates ‘AA-‘

March 19 – Standard & Poor’s Ratings Services said today that it assigned its ‘AA-‘
long-term issue rating to the proposed U.S. dollar ijara trust certificates to be launched by
Saudi Electricity Global SUKUK Co., a special purpose vehicle incorporated in the Cayman
Islands. The notes benefit from a purchase undertaking provided by Saudi
Electric Co. (SEC; AA-/Stable/–) and are designed to cover any payment
shortfall in a timely manner and to redeem the full value of the notes at
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