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EDP - Energias de Portugal Downgraded To 'BBB' On Sovereign Downgrade; Negative CreditWatch Status Maintained Mar 11 Product Image

EDP - Energias de Portugal Downgraded To 'BBB' On Sovereign Downgrade; Negative CreditWatch Status Maintained Mar 11

  • Published: March 2011
  • Standard & Poors

Abstract
We have lowered our sovereign ratings on the Republic of Portugal and kept them on CreditWatch negative. We are lowering our long-term ratings on EDP - Energias de Portugal to 'BBB' from 'A-' and maintaining the CreditWatch negative status on the long- and short-term ratings. The CreditWatch placement mirrors that on the Republic of Portugal. A further downgrade of Portugal could trigger a further downgrade of EDP, in accordance with our rating methodology. However, we will review the current situation to assess if we consider the sovereign's creditworthiness to fully constrain that of EDP. PARIS (Standard & Poor's) March 28, 2011--Standard & Poor's Ratings Services said today that it had lowered its long-term corporate credit and senior unsecured debt ratings...

Companies mentioned in this report are: EDP - Energias de Portugal, S.A.,EDP Finance B.V.
Action: Downgraded
Action: On CreditWatch:Negative

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EDP - Energias de Portugal, S.A.,EDP Finance B.V.

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