The credit rating agency Moody’s has upgraded the rating of state-owned Bulgarian Energy Holding (BEH) to a provisional Ba1 corporate family rating with a stable outlook.
According to Moody’s, a corporate family rating (CFR) is an opinion of the BEH Group’s ability to honor its financial obligations and is assigned to the company as if it had a single class of debt and a single consolidated legal structure. Any debt issued by BEH would likely be rated lower than CFR given the structural subordination of the creditors. However, the potential notching will depend on the actual balance between the debt at the operating companies versus BEH.
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Tags: BEH, Bulgaria, electricity, financial, Moody's