Moody's gives SSE hybrids Baa3

Moody's Investors Service said it assigned a Baa3 long-term rating to the junior subordinate capital securities to be issued by SSE plc. The size and completion of the hybrids are subject to market conditions.

“The Baa3 rating assigned to the hybrids is two notches below SSE's Baa1 issuer rating, reflecting the features of the hybrids. The instruments are perpetual with no fixed redemption date, deeply subordinated and SSE can opt to defer coupons on a cumulative basis. The rating is in line with those of existing hybrid notes issued by the company,” Moody’s said in a press release.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.