The high-grade Aa2 rating compares to Ecuador's 'junk' grade Caa3 credit score. The "Galapagos Bonds" as they will be known will be insured by the U.S. International Development Finance Corporation under a political risk insurance policy and also benefit from a $85 million guarantee from the Inter-American Development Bank. (Reporting by Marc Jones; Editing by Dhara Ranasinghe)
Messaging: marc.jones.thomsonreuters.com@reuters.net Twitter @marcjonesrtrs)) LONDON, May 5 (Reuters) - Credit rating firm Moody's has
given a provisional investment grade Aa2 rating to a planned
$656 million 'blue' bond set to help fund conservation of
Ecuador's Galapagos Islands.
Moody's said on Friday the rating was for a vehicle called
"GPS Blue" and Galapagos Marine Conservation Linked Bonds which
will mature, or be due for repayment, in 2041.
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