Middle East Economic Survey

VOL. XLVIII

No 9

28-February-2005

ISRAEL

S&P Assigns Delek & Avner Yam Thetis Debt Preliminary BBB- Rating

Ratings agency Standard & Poors (S&P) on 18 February assigned a preliminary BBB- rating with stable outlook to the proposed $275mn senior secured notes to be issued by Israel-based Delek & Avner Yam Thetis Ltd. The notes, which mature on 1 August 2013, will be issued in two tranches: a fixed-interest-rate tranche and a floating-interest-rate...