National Grid Gas Plc -- Moody's assigns (P)A3 rating, on review for downgrade, to National Grid Gas Finance EMTN programme

London, 05 September 2016 -- Moody's Investors Service, (Moody's) has today assigned a provisional (P)A3 rating to the GBP6 billion Euro Medium Term Note Programme of National Grid Gas Finance plc (the Programme). Concurrently, Moody's has placed the rating on review for downgrade, reflecting uncertainty about the future strength of the Programme's guarantor. Although the Programme will initially be guaranteed by National Grid Gas Plc (NGG, A3 stable), a wholly-owned subsidiary of National Grid Plc (Baa1, stable), its guarantee obligations are expected to be assumed by a new entity, National Grid Gas Distribution Limited (NGGD), by late 2016. National Grid Plc proposes to sell a majority stake in NGGD in early 2017.

Vollständigen Artikel bei Moodys lesen