Moody's may cut Eesti Energia

Moody's Investors Service said it placed the A3 issuer rating of Eesti Energia AS on review for downgrade, along with the A3 rating on the company's €300 million 4.5% bond due in 2020.

The short-term prime-2 rating is unaffected.

The review was prompted by Eesti Energia's weakening financial profile in light of its substantial investment program, Moody's said.

The review for downgrade also was driven by an increase in higher risk activities undertaken by the group following the partial opening of the electricity market in Estonia, the agency said.

© 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.