Spain's Iberdrola under review for possible downgrade - Moody's |
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Thu, 28 Jun 2007 18:37
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MUMBAI (Thomson Financial) - Moody's said it maintains the 'A2/P-1' senior unsecured debt ratings of Iberdrola SA and its guaranteed subsidiaries, under review for possible downgrade following the announcement of the acquisition of the US entity, Energy East Corporation (EEC).However, Moody's said it expects to conclude the review of the ratings once Iberdrola's revised strategic plan is available, adding that the most likely outcome of the review will be a downgrade to 'A3/P-2' following the Scottish Power acquisition and a likely heavy future investment programme.Moody's also said it maintains the review of the long-term ratings of the Scottish Power group entities including Scottish Power PLC, rated 'Baa1'.TFN.newsdesk@thomson.comrsh/dcaCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Asia Pacific 2007 corporate credit rating outlook seen negative - Moody's 