Fitch affirms RWE at BBB

Fitch said it affirmed RWE AG's long-term issuer default rating and senior unsecured rating at BBB and subordinated notes' rating at BB+ and removed them from Rating Watch evolving.

The outlook on the long-term IDR is stable.

Fitch said it also upgraded the short-term IDR to F2 from F3 and removed it from Rating Watch positive.

“The rating actions follow progress in the asset swap transaction with E.ON SE (BBB+/stable), which will add a large renewable generation business to the mix and improve RWE's credit profile due to the quasi-regulated character of the new business,” Fitch said in a news release.

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