Fitch lowers RWE

Fitch Ratings said it has downgraded RWE AG's long-term issuer default rating and senior unsecured rating to A- from A, subordinated note rating to BBB from BBB+ and short-term issuer default rating to F2 from F1.

The outlook is stable.

The downgrade mainly reflects Fitch's expectation that the financial burden, in terms of net debt and nuclear provisions, will remain at high levels over the rating horizon, the agency said.

This already takes account of management's restructuring measures, including the asset disposal program, efficiency initiatives, a focus on long-term strategic capital expenditure and capital measures, Fitch noted.

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