Moody's gives IENova notes Baa2

Moody's Investors Service said it assigned a rating of Baa2 to the up to $800 million senior unsecured notes to be issued by Infraestructura Energetica Nova SAB de CV (IEnova).

“The up to $800 million proposed notes will constitute direct senior unsecured obligations of IEnova (Baa2, negative), and thus the notes' rating and outlook reflect IEnova's credit standing. The notes will have a maturity of up to 30 years and will be non-amortizing,” Moody’s said in a press release.

IEnova will use the proceeds to refinance short-term debt.

The outlook is negative.

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