Moody's affirmed EDP at "Ba1" with outlook negative
Today, Moody's Investors Service affirmed its "Ba1" senior unsecured and non-prime short-term ratings on EDP, its finance subsidiary EDP Finance BV and its Spanish subsidiary, Hidroelectrica del Cantabrico.
Pursuant to the terms and for the purposes of article 248 of the Portuguese Securities code, EDP - Energias de Portugal, S.A. ("EDP") is providing the following information to the market:
Today, Moody's Investors Service ("Moody's") affirmed its "Ba1" senior unsecured and non-prime short-term ratings on EDP, its finance subsidiary EDP Finance BV ("EDP Finance") and its Spanish subsidiary, Hidroelectrica del Cantabrico ("HC Energia"). The outlook on all ratings is negative which reflects regulatory and political uncertainties in Portugal that continue to exert pressure on EDP's credit metrics.
This rating action follows Moody's recent decision to affirm the Ba3 ratings of the Government of Portugal and to change its outlook to stable from negative.
EDP – Energias de Portugal, S.A.
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