S&P updates rating on EDF hybrids

S&P said it assigned its B+ long-term issue rating to the perpetual, optionally deferrable, and subordinated hybrid capital security issued in U.S. dollars by Electricite de France SA.

Parallel with the offering, EDF launched a tender offer on its $1.5 billion of subordinated hybrid instrument with a first call date on Jan. 22, 2024, which the new issuance replaces.

Originally on Nov. 30, S&P assigned a B+ rating to €1 billion of planned hybrids.

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