Moody’s revises State Grid to stable

Moody's Investors Service said it changed the outlook on State Grid International Development Ltd.’s (SGID) A2 issuer rating and senior unsecured debt ratings issued by State Grid Europe Development (2014) plc to stable from negative.

At the same time, the agency affirmed all ratings.

"The rating affirmation reflects Moody's view that SGID's overall credit quality remains consistent with its A2 rating," Moody's vice president and senior analyst Ivy Poon said in a news release.

At the same time, Moody’s said the outlook change reflects: (a) The removal of notching related to structural subordination; offset by (b) a weakening in its standalone credit profile following the sizable acquisition of CPFL Energia SA (Ba1 negative).

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