Moody's upgrades HEP

Moody's Investors Service said it upgraded Hrvatska Elektroprivreda dd’s (HEP) senior unsecured debt rating to Baa2 from Ba1. Concurrently, the agency assigned long-term issuer ratings to HEP and withdrew the Ba1 long-term corporate family rating and the Ba1-PD probability of default rating, following the agency's practice for corporates transitioning to investment grade.

This rating action concludes the review for upgrade starting on June 28, the agency said.

“Today's rating action follows the upgrade of the sovereign long-term rating of the government of Croatia to Baa2 with a stable outlook from Ba1 on July 15, 2022,” Moody’s said in a press release.

The outlook is stable.

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