Moody’s rates Vattenfall securities Baa2

Moody's Investors Service said it assigned a Baa2 long-term rating to the $400 million subordinated 6.1% fixed-rate reset hybrid capital securities due 2078 issued by Vattenfall AB.

The outlook is negative, in line with that of Vattenfall's A3 senior unsecured debt rating.

The Baa2 rating assigned to the hybrids is two notches below Vattenfall's senior unsecured rating of A3, reflecting the features of the hybrids. The instruments have a long-dated maturity (more than 60 years), are deeply subordinated and Vattenfall can opt to defer coupons on a cumulative basis.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.