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Moody's Changes Outlook on Verbund's Rating to Negative
The U.S. rating agency Moody's Investors Service has today changed to negative from stable the outlook on the A2 senior unsecured rating of the Austrian energy company Verbund .
Moody's Changes Outlook on Verbund's Rating to Negative / Picture: © Verbund AG
The change of outlook to negative from stable follows Verbund's announcement of its 2011 annual results and reflects increased pressure on the company's earnings and cash flows from a combination of low power prices, poor spreads on gas-fired capacity and the negative performance of its international holdings.
Moody's notes that Verbund's credit metrics for 2011 -- which include…
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