Fitch puts Georgia Global on evolving watch

Fitch Ratings said it placed Georgia Global Utilities' B+ long-term issuer default rating and B+/RR4 senior unsecured ratings on rating watch evolving.

The placement follows the announced sale of Georgia Global, excluding independent renewable assets, to FCC Aqualia, SA, the agency said.

The transaction is a two-stage process expected to close by end-September, subject to shareholder and regulatory approvals.

“The RWE indicates that we can upgrade, downgrade or affirm the ratings after the transaction completes. We expect the completion and rating review to take more than six months,” Fitch said in a press release.

© 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.