Innogy gets upgraded, then sells super-tight green bond

innogy
By Nigel Owen
12 Oct 2017

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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