Moody’s upgrades Aliander

Moody's Investors Service said it upgraded the issuer and long-term senior unsecured debt ratings of Alliander NV and the guaranteed senior unsecured debt ratings of finance subsidiary Alliander Finance BV to Aa2 from Aa3.

The P-1 short-term ratings were affirmed.

At the same time, the agency upgraded the rating on the €500 million basket C hybrid issued in 2013 to A2 from A3 and the baseline credit assessment to a1 from a2.

The outlook is stable.

Moody’s said the action reflects its expectation that over the medium-term, Alliander will maintain a very strong financial profile against the wider European network universe. This takes into account the agency's assessment of the current regulatory settlement in the context of ongoing investment requirements and a compensation payment that Alliander will likely receive from Enexis under an asset swap transaction that will become effective on Jan. 1, 2016.

© 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.