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Moody's assigns Baa1 to ENN Energy notes
Moody's Investors Service said it assigned a Baa1 rating to ENN Energy Holdings Ltd.’s planned senior unsecured dollar-denominated note.
The agency upgraded ENN Energy’s ratings to Baa1 on Dec. 8.
ENN Energy will use the proceeds for refinancing debt and for general corporate purposes.
"The proposed U.S. dollar note issuance will not have a material impact on ENN Energy's overall credit profile because the net increase in the company's debt level will be minimal after the issuance," said Boris Kan, a Moody's vice president and senior credit officer, in a press release.
The outlook is stable.
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