S&P affirms Iberdrola

S&P said it affirmed its BBB+ long-term and A-2 short-term issuer credit ratings on Iberdrola SA. The outlook remains stable.

S&P also affirmed the BBB- issue rating on the group's junior subordinated debt issued by Iberdrola International BV and the mxAAA long-term CaVal (Mexico) national scale rating on the debt issued by Iberdrola Finanzas SAU.

In addition, the agency affirmed the BBB+ ratings on the senior unsecured debt issued by Iberdrola Finance Ireland Ltd., Iberdrola Finanzas SAU and Iberdrola International BV, and guaranteed by Iberdrola SA.

“The affirmation reflects the group's solid business risk profile, one of the strongest among utilities in Europe. We also perceive management's financial policy as committed to the BBB+ rating level,” S&P said in a news release.

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