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Moody’s rates SUEZ’s hybrid notes Baa2
Moody’s Investors Service said it assigned a Baa2 long-term rating to the deeply subordinated fixed rate resettable notes to be issued by SUEZ SA. The size of the offering is subject to market conditions.
“The Baa2 rating assigned to the hybrid is two notches lower than SUEZ’s senior unsecured rating of A3, reflecting the features of the hybrid. It is undated, deeply subordinated and SUEZ can opt to defer coupons on a cumulative basis. The rating is in line with those of the existing hybrid notes issued by the company,” said Moody’s in a press release.
The outlook is negative.
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