Moody's affirms Iberdrola

Moody's Investors Service said it affirmed the A3/P-2 senior unsecured long-term and short-term ratings and stable outlook of Iberdrola SA following the completion of the acquisition of Energy East Corp. (Baa2 senior unsecured rating; under review for downgrade).

The €6.2 billion acquisition has already been factored into the ratings, the agency said, and forms part of Iberdrola's previously announced strategic plan to invest €24 billion over the 2008 to 2010 period, aimed at strong growth.

© 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.