Moody's gives Vattenfall hybrids Baa2

Moody's Investors Service said it assigned a Baa2 long-term junior subordinated rating to the British pound-denominated fixed-rate resettable hybrid capital security to be sold by Vattenfall AB.

The Baa2 rating assigned to the hybrid is two notches below Vattenfall's senior unsecured rating of A3, reflecting the features of the hybrid. The security is a deeply subordinated instrument maturing in 2083,” Moody’s said in a press release.

The outlook is negative.

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