Moody’s assigns Baa2 to SUEZ hybrid

Moody's Investors Service said it assigned a Baa2 long-term rating to the €600 million undated deeply subordinated fixed-rate resettable notes (hybrid) to be issued by SUEZ.

The Baa2 rating is two notches below SUEZ's senior unsecured rating of A3, reflecting the features of the hybrid, Moody’s said. It is undated, deeply subordinated and SUEZ can elect to defer coupons on a cash cumulative and compounding basis.

The rating is in line with those of the existing hybrid notes issued by the company.

© 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.