Moody's may upgrade Suez

Moody's Investors Service said it placed GIE Suez's long-term ratings on review for possible upgrade following its announced merger with Gaz de France. The group's Prime-1 short-term rating was affirmed.

Moody's said the possible upgrade reflects the lower business and financial risk Suez SA will likely gain from the merger with a higher-rated entity and the implied state support and dependence the combined entity will likely receive from France.

The agency said it will resolve the review as the final capital structure of the group becomes clearer and as the French government determines what its stake in the combined entity will be if its share drops below 70%.

© 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.