S&P lowers Eesti Energia

Standard & Poor’s said it downgraded Eesti Energia AS to BBB from BBB+. The outlook is stable.

S&P said the downgrade follows worsening market conditions that have resulted in weakening operating cash flows for Eesti Energia.

“We do not anticipate that a debt reduction will offset this weakening, and we have consequently revised downward our forecasted credit metrics for the company,” S&P said in a news release.

“We have also reassessed our view of Eesti Energia’s financial risk profile to ‘significant’ from ‘intermediate.’”

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