Moody's changes Endeavor Energy view to stable

Moody's Investors Service said it changed Endeavor Energy Resources, LP's outlook to stable from positive. At the same time, Moody's affirmed Endeavor's Ba3 corporate family rating, its Ba3-PD probability of default rating and B1 senior unsecured notes rating.

"The change of outlook to stable reflects our expectation that very low oil prices are likely to persist through 2020, rendering the potential for an upgrade of Endeavor's ratings remote," noted John Thieroff, a Moody's analyst, in a press release. "The company will curtail activity as the year progresses to preserve cash and maintain credit metrics appropriate for the rating."

Fitch rates Nstar green bonds A+

Fitch Ratings said it assigned an A+ rating to Nstar Electric Co.'s issuance of green bonds. The green bonds will mature on April 1, 2030, and rank pari passu with Nstar Electric's other senior unsecured debt.

Proceeds will be used to refinance investments in eligible green expenditures, which were previously financed during the period from July 1, 2018 through Dec. 31.

Nstar Electric's long-term issuer default rating is A.

Moody's nips Norsk Hydro

Moody's Investors Service said it downgraded the long term issuer and senior unsecured bond ratings of Norsk Hydro ASA to Baa3 from Baa2. The outlook remains negative on all ratings.

The downgrade mirrors the recent deterioration in Hydro's underlying financial performance owing to significant pricing pressures affecting the global primary aluminium market as well as challenging conditions facing the group's downstream activities amid weak transport and automotive markets worldwide and depressed demand conditions in the building and construction sector in Western Europe and the U.S.

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