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S&P rates NextEra Energy units BBB
S&P said it gave a BBB issue-level rating to NextEra Energy Inc.'s (NEE's) $2 billion of equity units, which include a purchase contract issued by NEE that obligates the owner to purchase NEE's common stock by no later than Sept. 1, 2025, and a remarketable, series M debenture issued by NextEra Energy Capital Holdings Inc. due Sept. 1, 2027.
“We rate these securities BBB, two notches below our A- issuer credit rating on NextEra. Our BBB issue-level rating reflects the equity units' deferability and subordination,” S&P said in a press release.
The company intends to use the proceeds to fund investments in energy and power projects and for general use, including the repayment of commercial paper obligations.
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