S&P upgrades EDP to "BBB-" with stable outlook
Standard & Poor's Global Ratings upgraded the long-term corporate credit rating on EDP
Standard & Poor's Global Ratings upgraded the long-term corporate credit rating on EDP |
Pursuant to the terms and for the purposes of the article 17 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council and of article 248-A of the Portuguese Securities code, EDP - Energias de Portugal, S.A. ("EDP") is providing the following information to the market:
Today, Standard & Poor's Global Ratings ("S&P") upgraded the long-term corporate credit rating on EDP – Energias de Portugal S.A. ("EDP") and EDP Finance B.V. ("EDP Finance") from "BB+" to "BBB-". At the same time, the short-term credit rating was raised from "B" to "A-3". The outlook is stable.
The upgrade of EDP's ratings is based upon S&P's expectation of credit metrics improvement stemming from material debt reduction on well valued disposals as well as improving operating performance. S&P also has a favorable view of the group's ongoing simplification strategy, with the reduction of minority interests at EDP Renováveis S.A..
EDP – Energias de Portugal, S.A.
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