Deal could trigger downgrade for E.ON US and subsidiaries
German power and gas company E.ON's decision to sell its US subsidiary to PPL Corporation for $7.625 billion has resulted in a ratings review and possible downgrade for E.ON US.
Moody's Investors Service placed the ratings of E.ON US and its subsidiaries Kentucky Utilities Company (KU) and Louisville Gas and Electric Company (LGE) under review for possible downgrade after the acquisition announcement yesterday.
“E.ON’s size, scale and credit profile has provided the utilities with liquidity and financial flexibility in the form of significant inter-company funding, along with a liberal and flexible dividend policy that has strengthened their respective financial
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