Moody's gives Lundin Energy notes Baa3

Moody's Investors Service said it assigned a Baa3 rating to the senior unsecured notes issued by Lundin Energy Finance BV, which are guaranteed by Lundin Energy AB.

“The Baa3 rating of the notes issued by Lundin Energy Finance BV is in line with the Baa3 long-term issuer rating of Lundin, reflecting that Lundin Energy Finance BV is a guaranteed subsidiary of Lundin,” the agency said in a press release.

The proceeds will be used to repay bank debt. “Given that the proceeds from the notes will be used to repay outstanding debt drawn under Lundin's corporate facility, the issuance will not lead to an increase in Lundin's leverage and thus will not change Lundin's Baa3 long-term issuer rating,” Moody’s said.

The outlook is stable.

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