Moody's changes RWE view to positive

Moody's Investors Service said it changed the outlook on RWE AG to positive from stable and affirmed the Baa3 issuer rating and the Ba2 rating of its subordinated hybrid capital securities.

The change of outlook to positive reflects Moody's view RWE's business profile is improving with its ongoing transformation from a pure conventional power generator to a utility with increasing exposure to renewable assets.

It also incorporates the rating agency's view RWE will maintain solid operating and financial performance allowing for its funds from operations/net debt ratio to increase towards the high 20s, in percentage terms, which would be commensurate with upward pressure on the ratings.

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