Fitch downgrades EDP's senior unsecured ratingto "A-", on RWN
Today, Fitch Ratings ("Fitch") downgraded EDP - Energias de Portugal, S.A.'s (EDP) and EDP Finance B.V.'s senior unsecured ratings to "A-" from "A" and placed them on Rating Watch Negative (RWN). The agency has also placed the companies" Long-term Issuer Default Ratings (IDR) of "A-" and Short-term IDRs of "F2" on RWN. The rating actions follow the downgrade of Portugal's sovereign rating to "A-"/RWN.
Today, Fitch Ratings ("Fitch") downgraded EDP - Energias de Portugal, S.A.'s (EDP) and EDP Finance B.V.'s senior unsecured ratings to "A-" from "A" and placed them on Rating Watch Negative (RWN). The agency has also placed the companies" Long-term Issuer Default Ratings (IDR) of "A-" and Short-term IDRs of "F2" on RWN. The rating actions follow the downgrade of Portugal's sovereign rating to "A-"/RWN.
Fitch considers the direct impact of the rationale for the sovereign rating downgrade to be limited for EDP's business profile.
The RWN indicates a heightened probability of a downgrade over the next three to six months. A downgrade could be a result of a sovereign rating downgrade or deterioration of EDP's standalone credit profile.
EDP – Energias de Portugal, S.A.
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