Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers R > Headlines for REN - Redes Energeticas Nacionais, SGPS SA > News item |
Moody’s upgrades REN
Moody's Investors Service said it upgraded the senior unsecured debt and issuer ratings of REN - Redes Energeticas Nacionais, SGPS SA (REN) and finance subsidiary REN Finance BV to Baa3 from Ba1.
Concurrently, the agency upgraded the rating of their €5 billion medium-term note program to provisional Baa3 from provisional Ba1.
The outlooks are stable.
The action concludes the review for upgrade announced on May 13 and follows Moody's decision to upgrade the rating of the Government of the Republic of Portugal to Ba1 from Ba2 as announced on July 25.
The upgrade is based upon the outlook for a gradual improvement of REN's financial profile against the background of a slowly stabilizing domestic macroeconomic environment. The upgrade is also supported by REN's solid and diversified liquidity position, Moody’s said.
© 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.