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Moody's cuts International Power
Moody's Investors Service said it assigned a senior implied rating of Ba2 to International Power plc and downgraded the senior unsecured ratings to B1 from Ba3.
The outlook is negative.
While debt-restructuring negotiations with creditors are ongoing regarding the U.S. subsidiary, ANP Funding 1, Moody's said it believes that in any outcome International Power will be unlikely to receive material distributions from ANP for the foreseeable future.
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