Moody's Upgrades Bulgarian Energy Holding's Rating

Business » ENERGY | July 20, 2016, Wednesday // 10:10
Bulgaria: Moody's Upgrades Bulgarian Energy Holding's Rating File photo, BGNES

Moody's Investors Service has assigned a provisional (P)Ba2 senior unsecured rating to Bulgarian Energy Holding EAD's (BEH) proposed bond issuance, the company has said.

It normally issues provisional ratings in advance of the final sale of securities to voice its preliminary credit opinion with regard to the transaction only, with a definitive rating possibly differing from a provisional one.

BEH's (P)Ba1 corporate family rating has meanwhile been affirmed, with a stable outlook.

The senior unsecured rating is positioned one notch below the corporate family rating, which reflects the structural subordination of the creditors at the holding company to those in the operating subsidiaries.

Upward rating potential is limited, Moody's also says, citing "uncertainties over the settlement of the Belene arbitration award and the timing and nature of the full liberalization of the wholesale electricity market and its impact on BEH."

We need your support so can keep delivering news and information about Bulgaria! Thank you!

Energy » Be a reporter: Write and send your article
Tags: Bulgarian Energy Holding, Moody's Investors Service, BEH, Belene

Bulgaria news (Sofia News Agency - is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." (Sofia News Agency - and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria