London, 30 July 2014 -- Moody's Investors Service has today upgraded to Baa3 from Ba1 the senior unsecured debt and issuer ratings of REN -- Redes Energeticas Nacionais, SGPS SA (REN) and its finance subsidiary REN Finance B.V.. Concurrently, Moody's also upgraded to (P)Baa3 from (P)Ba1 the rating of their EUR5 billion EMTN programme. The outlook for all ratings is stable.

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