Moody’s rates EP Infrastructure notes Baa3

Moody's Investors Service said it assigned a Baa3 senior unsecured debt rating to the €750 million 1.659% notes due 2024 to be issued by EP Infrastructure.

The rating is in line with the Baa3 issuer rating with a stable outlook.

The agency said the rating assigned to the notes reflects the issuer's credit quality and the terms and conditions of the notes.

Moody’s said the issuer's credit quality reflects the strong business risk profile and strategic importance of its three core operating subsidiaries, eustream as, SPP-distribucia as and Stredoslovenska energetika as.

“EPIF also owns a number of district heating businesses with co-generation power production in the Czech Republic and one in Hungary, which have a quasi-monopoly on the heating infrastructure within their regions and a favourable cost structure that ensures a very competitive offer against alternative heating sources,” the agency said in a news release.

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