Moody's rates EEM

Moody's Investors Service said it assigned a senior unsecured issuer rating of A1 with a stable outlook to Empresa de Electricidade da Madeira (EEM), which is in the Autonomous Region of Madeira (Aa3, stable).

Moody's said the government-related issuer's ratings reflect a baseline credit assessment of 4, local currency sovereign rating at Aa3, high support level and medium dependence level.

The agency added the company has historically had a weak financial profile with high debt in relation to its cash flow and the company is also small in size and geographically isolated hence with a higher cost structure than on the mainland.

© 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.