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Engie: Moody's rates hybrid bonds 'Baa3'

(CercleFinance.com) - Moody's Investors Service announced on Wednesday that it has attributed a "Baa3" rating to the latest "hybrid" bonds launched by Engie, a rating on which the agency has a "stable" outlook.


Moody's explains that this rating is two notches below the "Baa1" rating usually given to the energy group's long-term unsecured debt, due to the specific properties of the issue.

It is of an indefinite duration, super-subordinated in nature and Engie may decide to defer coupon payments with cumulative effect, Moody's said.

However, the agency notes that this rating is in line with the other hybrid tools already launched by the company.


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