Standard & Poor's downgrades EDP to "BB+" with negative outlook
Today, Standard & Poor's Ratings Services downgraded the long-term and short-term corporate credit ratings on EDP – Energias de Portugal S.A. and EDP Finance B.V. from "BBB" to "BB+" with negative outlook, removing the ratings from CreditWatch with negative implications.
Today, Standard & Poor's Ratings Services ("S&P") downgraded the long-term and short-term corporate credit ratings on EDP – Energias de Portugal S.A. ("EDP") and EDP Finance B.V. from "BBB" to "BB+" with negative outlook, removing the ratings from CreditWatch with negative implications.
This downgrade follows S&P's downgrade of the Republic of Portugal to "BB" with negative outlook, on January 13, 2012. EDP's "BB+" long term rating is one notch higher than Portugal, which is the maximum allowed under S&P's criteria for nonsovereign entities in the eurozone.
EDP – Energias de Portugal, S.A.
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