Moody's assigns CFE 2016, 2017 notes Baa1

Moody's Investors Service said it assigned a Baa1 rating to Comision Federal de Electricidad's senior unsecured global 5.15% notes for $750 million due 2047 with an original maturity of 30 years issued on June 22, 2017, and 4¾% notes for $1 billion due 2027 with an original maturity of 10 years and 4 months, issued on Oct. 18, 2016.

Comision Federal used the proceeds to pay Pidiregas projects that started operations in 2017 and 2018 and to finance general corporate purposes during 2016, respectively.

“These global notes do not represent new debt for CFE,” Moody’s said in a press release.

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