Moody's might cut HSE Netz

Moody's Investors Services said it placed the Baa1 senior secured debt rating on the €320 million 6 1/8% notes due 2041 issued by HSE Netz AG under review for downgrade.

Moody's said the action reflects: (a) The deterioration in the credit quality of HSE Netz's parent HEAG Sudhessische Energie AG, which is to some extent driven by the negative developments in the German energy sector; and (b) Moody's view that the financing structure of HSE Netz does not fully insulate the company from the credit risk of the wider group, hence HSE Netz could be affected by the declining credit quality of HEAG Sudhessische.

© 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.