Moody’s gives Veolia convertibles Baa1

Moody's Investors Service said it assigned a Baa1 rating to Veolia Environnement SA's €700 million senior unsecured bonds due 2021 convertible into new shares and/or exchangeable for existing shares of Veolia.

The outlook is stable.

Moody’s said the rating reflects that the convertibles are senior, unsecured and unsubordinated obligations of Veolia and hence aligned with the company's Baa1 senior unsecured long-term rating.

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