Fitch Ratings has today downgraded EDP - Energias de Portugal, S.A.'s ("EDP?") ratings by one notch to Long-term Issuer Default ("IDR") "A-" (A minus), senior unsecured "A" and Short-term IDR "F2". EDP's wholly-owned subsidiary EDP Finance B.V.'s ratings were also downgraded by a notch to Long-term IDR "A-" (A minus), senior unsecured "A" and Short-term IDR "F2". Fitch has affirmed EDP's Spanish subsidiary Hidroelectrica del Cantabrico, S.A.'s ("HC") Long-term IDR at "A-" (A minus) and Short-term IDR at "F2". All the abovementioned ratings were removed from Rating Watch Negative ("RWN"). A Stable Outlook was assigned to the Long-term IDRs on EDP, EDP Finance and HC. These rating actions followed the completion by EDP of the acquisition of Horizon Wind Energy LLC ("Horizon") of the US.

EDP - Energias de Portugal, S.A.