Moody’s might lower Rio Energy

Moody's Investors Service said it placed Rio Energy SA’s B3 rating under review for downgrade.

“Today's rating action reflects the company's increased refinancing risk and overall liquidity deterioration,” the agency said in a news release.

“The company faces a debt maturity of $40 million due in December 2018 incurred to partially fund its expansion plan to convert three simple-cycle plants into combined cycles.”

Moody’s said the review will focus on the company's ability to have a reliable refinancing strategy in place with sufficient anticipation of its December debt maturities while it continues to work on the completion of its investment plans.

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