By BFN News | 08:04 AM | Thursday 11 December, 2014
Fitch Ratings has affirmed RWE AG's long-term issuer default rating and senior unsecured rating at 'BBB+', short-term IDR at 'F2' and subordinated note rating at 'BBB-'. Fitch has also affirmed the notes issued by RWE Finance BV, which are guaranteed by RWE, at 'BBB+'. The outlook on the long-term IDR is Stable. Fitch says the affirmation reflects the group's declining earnings, improving business risk profile, planned disposal of the upstream oil and gas assets and the challenging political environment in Germany. Fitch expects financial metrics to remain within guidelines of nuclear- and lease-adjusted funds from operations (FFO) net leverage below 4.0x and corresponding fixed charge cover above 4.0x. Story provided by StockMarketWire.
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