S&P raises Viesgo Holdco

S&P said it raised its ratings for Viesgo Holdco SAU and IE2 Holdco’s notes to BBB from BBB- and removed the ratings from CreditWatch with positive implications where they were placed at the same time as its parent, EDP - Energias de Portugal SA.

“Bondholders' approval of the consent solicitation to amend and transfer IE2 Holdco's debt to EDP signals the full financial integration of Viesgo within EDP. On Feb. 3, 2022, IE2 Holdco requested bondholders' approval for amendments to the terms and conditions, the trust deed, and the agency agreement of its €500 million senior unsecured notes maturing 2023, and €550 million senior unsecured notes maturing 2026. These amendments are now effective,” S&P said in a press release.

The agency withdrew its ratings for Viesgo.

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