Moody’s lifts Greenko notes

Moody's Investors Service said it upgraded the senior unsecured ratings assigned to Greenko Dutch BV's backed senior unsecured dollar notes to Ba1 from Ba2.

The notes are unconditionally and irrevocably guaranteed by its holding company, Greenko Energy Holdings.

At the same time, Moody's assigned a Ba1 rating to the proposed backed senior dollar notes of Greenko Solar (Mauritius) Ltd. The proposed notes are also unconditionally and irrevocably guaranteed by Greenko Solar's holding company, Greenko Energy Holdings.

The outlook is stable.

“GEH's obligations under the guarantees will rank at least pari passu with all of its other present and future unsubordinated and unsecured obligations,” the agency said in a news release.

“As such, the ratings for the notes, issued and to be issued by GDBV and Greenko Solar respectively, are in line with GEH's credit profile, which is consistent in turn with a Ba1 level.”

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