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Moody´s places REN´s rating on review for possible upgrade

 

Moody's rating agency today placed the Ba1 rating of REN and REN Finance B.V. (a wholly owned subsidiary of REN) on review for possible upgrade. 

Moody's stated that this action follows the recent change of the Portuguese Republic's rating, which was raised from Ba3 to Ba2 and was also placed on review for a possible upgrade.

According to Gonçalo Morais Soares, REN CFO, "besides the good news that was provided by the rise of the Portuguese Republic's rating, this will to raise REN's rating demonstrates that the process of financing the company is bearing fruit, so that we may return to the investment grade rating."