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Moody's Changes Outlook on Verbund's Rating to Negative

Published: March 6, 2012; 12:21 · (Vindobona)

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…

This article includes a total of 288 words.

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