Moody's Ratings upgrades five of EDP's hybrids to Baa3 from Ba1
Moody's Ratings (Moody's) has today upgraded to Baa3 from Ba1 the ratings of five Fixed to Reset rate Subordinated Instruments (the five "hybrids") of EDP, S.A. ("EDP"). These instruments are the September 2021 EUR750 million 2082 maturity hybrid callable in December 2026, the September 2021 EUR500 ...EDP Energias de Portugal is a utility company engaged as a generator, distributor and supplier of electricity in Portugal, and as an electricity generation company and a gas distributor in the Iberian Peninsula. In addition, Co. is a wind power operator with windfarms for energy generation in the Iberian Peninsula, the U.S., Canada, Brazil, France, Belgium, Italy, Poland and Romania and is engaged in developing wind projects in the U.K. Co. is also engaged in generating solar photovoltaic energy in Portugal, Romania and the U.S, and in Brazil it is engaged as an operator in electricity generation. As of Dec 31 2015, Co. had 9.7 million electricity customers and 1.4 million gas customers.
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