Moody's Ratings assigns Ba1 rating to EDP's hybrid instrument
Moody's Ratings (Moody's) has today assigned a Ba1 long term rating to the proposed Fixed to Reset rate Junior Subordinated Instrument (the junior subordinated "Hybrid") to be issued by EDP, S.A. ("EDP"). The size and completion of the Hybrid are subject to market conditions. The outlook is stable. ...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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