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Moody's upgrades Enagas' ratings to Baa2/Prime-2; changes outlook to positive

Thursday, 27 Feb 2014 07:00pm EST 

Enagas SA:Moody's Investors Service has upgraded the senior unsecured issuer ratings of Enagas to Baa2/Prime-2 from Baa3/Prime-3.Concurrently Moody's has affirmed the Baa2 senior unsecured debt rating of Enagas Transporte, its wholly-owned subsidiary.Outlook for the ratings of Enagas and Enagas Transporte (together the Enagas group) has been changed to positive.Upgrade of Enagas' ratings to Baa2/Prime-2 reflects progress made by the group towards reducing the structural subordination of creditors at the parent company level.Outlook change to positive follows Moody's recent decision to upgrade to Baa2 from Baa3 Spain's government bond rating and to change its outlook to positive from stable. 

Company Quote

0.485 +1.99%
20 Aug 2014