Moody’s places Babilonia on review for downgrade

Moody's Investors Service said it placed Babilonia Holding SA’s ratings under review for downgrade from stable, citing the announcement of EDP Renovaveis, SA that it signed an agreement to sell its stake in Babilonia.

The ratings under review are Babilonia’s Ba2 global scale and Aa1.br national scale on the company’s R$87 million of senior secured notes due 2033.

The transaction would trigger change-of-control provisions in Babilonia’s loans and notes, Moody’s said.

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