Moody's: Hrvatska Elektropriveda view negative

Moody's Investors Service said it changed the outlook on the Ba1 corporate family rating of Hrvatska Elektroprivreda dd to negative from stable.

"This rating announcement follows our recent decision to change to negative from stable the rating outlook on the Baa3 local- and foreign-currency government bond ratings of the Government of Croatia, which has 100% ownership of Hrvatska Elektropriveda," Moody's vice president, senior analyst and lead analyst for Hrvatska Elektropriveda Richard Miratsky said in a news release.

"The change of outlook also recognizes pressure on Hrvatska Elektropriveda's liquidity arising from the demanding maturity profile of its debt facilities that in turn reflects a high proportion of short-term debt and the need for the company to finance its sizeable investment program" Miratsky added in the release.

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