Moody’s assigns a (P)A3 rating with negative outlook to Fluvius’s new EMTN Programme

Today, 18 November 2020, the rating agency Moody’s Investors Service (‘Moody’s) assigned a (P)A3 rating (with negative outlook) to Fluvius System Operator CV (‘Fluvius’) new EMTN programme. This rating is fully in line with the current A3 (negative outlook) long-term corporate rating assigned by Moody’s to Fluvius.

The EMTN programme will allow Fluvius to issue bonds up to a maximum amount of EUR 5 billion. It is being guaranteed by Fluvius’s 11 shareholders*, being intermunicipal companies for utility services (100% owned by the Flemish municipalities), severally but not jointly and each pro rata its shareholding in Fluvius System Operator CV.