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Provider: GlobalData
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$20.00
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$12.00

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Fitch Ratings Downgrades EDP - Energias de Portugal SA’s Rating


Thursday, 2 Aug 2012 11:58am EDT 

EDP - Energias de Portugal SA (EDP) announced that, on August 2, 2012, Fitch Ratings (Fitch) downgraded ratings of EDP, its finance subsidiary EDP Finance BV (EDP Finance) and its Spanish subsidiary Hidroelectrica del Cantabrico (HC Energia) long-term Issuer Default Ratings to BBB- from BBB+, with negative outlook. According to Fitch EDP remains rated above the Portuguese sovereign, and in theory could remain investment grade if Portugal, currently rated BB+/Negative, was downgraded to BB-, depending on the level of economic dislocation at the time. 

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