American Water Works (AWK)

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American Water Capital's senior notes rated 'A-' - S&P

MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said it has assigned its 'A-' senior unsecured rating to American Water Capital Corp.'s proposed $750 million of notes due 2017 and $750 million of notes due 2037.

The new notes do not include certain transfer restrictions included in the original notes, but the terms of the new notes are otherwise substantially identical to the existing notes. The ratings on the existing notes will be withdrawn on completion of the exchange offer, S&P said.

The 'A-' rating on the company remains on negative watch, S&P said.

American Water Capital is a subsidiary of American Water Works Co. Inc.