Moody's downgrades Eesti Energia

Moody's Investors Service said it downgraded Eesti Energia AS' long-term issuer rating and senior unsecured bonds to A3 from A1 and short-term issuer rating to Prime-2 from Prime-1.

This conclude the rating review initiated by Moody's on March 30, and the outlook is stable.

The downgrade reflects an adjustment to the agency's assumption of the probability of government support for Eesti Energia to medium from high. Moody's said this assumption of lower support reflects a shift in the government's attitude toward Eesti Energia's future ownership structure and the recently executed sale of the company's high-voltage transmission assets.

© 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.