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Moody's ups ABP Finance bonds
Moody's Investors Service said it upgraded the backed senior unsecured bonds issued by ABP Finance BV (formerly Lundin Energy Finance BV) to Baa2 from Baa3. Concurrently, the agency withdrew the Baa3 long term issuer rating of Lundin Energy AB and its stable outlook.
“Today's rating action has been driven by the successful closure of the merger between Aker BP ASA (Aker BP, Baa2 stable) and the oil and gas assets of Lundin Energy. This merger concluded on June 30, 2022. Aker BP now provides an unconditional and irrevocable guarantee to the bonds issued by ABP Finance BV,” Moody’s said in a press release.
The outlook for ABP Finance BV remains stable.
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