Moody’s cuts Vattenfall to negative

Moody's Investors Service said it affirmed Vattenfall AB’s A3 issuer and senior unsecured ratings, Baa2 junior subordinated debt ratings and Prime-2 short-term rating.

The outlook was changed to negative from stable.

Moody’ said the change in outlook was driven by its expectation of lower earnings in the context of a challenging operating environment in Vattenfall's core markets. The affirmation of the A3 rating largely reflects the actions that Vattenfall is taking to address these challenges as well as the supportive stance of its 100% owner, the Kingdom of Sweden (Aaa stable).

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