Standard & Poors affirms EDP's "BB+" rating and outlook is revised to positive
Today, Standard & Poor's Ratings Services affirmed its "BB+" long-term and "B' short-term corporate credit ratings on EDP and revised the outlook from stable to positive.
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, Standard & Poor's Ratings Services ("S&P") affirmed its "BB+" long-term and "B' short-term corporate credit ratings on EDP and revised the outlook from stable to positive.
S&P revised the outlook to positive to reflect expectation that the group's financial risk profile will strengthen markedly over the next 2 years, anticipating that EDP's debt will continue gradually decreasing while its credit metrics continue to slowly strengthen, thanks to additional asset sales, tariff deficit securitizations, and cuts in capital spending.
A lowering of S&P's long-term rating on Portugal by up to two notches would leave the rating on EDP unchanged, all else remaining equal.
EDP – Energias de Portugal, S.A.
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