Innogy gets upgraded, then sells super-tight green bond
Innogy, the German utility split off from RWE in April 2016, on Wednesday announced it would be holding investor calls about a new benchmark 10 year debut green bond issue. Later in the day, Standard & Poor’s upgraded the issuer to BBB.
Innogy is 75% owned by RWE, and comprises RWE’s former renewables, retail and grid businesses.
It was initially rated Baa3/BBB-/BBB, but Fitch assigned a rating of A- to the Dutch-incorporated bond issuing entity, Innogy Finance BV, in October 2016.
Moody’s upgraded its rating of the
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