Annual Review with Credit Rating Agencies

RNS Number : 9090U

Centrica PLC

02 April 2019

 

Centrica plc

('the Company')

2 April 2019

Outcome of Annual Review with Credit Rating Agencies

Centrica plc notes the result of its annual reviews with both Moody's Investors Service ("Moody's") and S&P Global Ratings ("S&P").

On 14 March, Moody's affirmed an unchanged rating of Baa1 (stable outlook).

On 2 April, Standard and Poor's downgraded the long-term issuer credit and issue ratings of Centrica to BBB (stable outlook) from BBB+ (negative outlook). This change in rating follows a three-year period of Centrica being on a negative outlook.

As part of its financial framework, the Company targets strong investment grade credit ratings. Centrica will be able to operate effectively at the revised rating, with the near-term impact expected to be limited to posting a small amount of additional collateral, in the form of letters of credit, on some commodity procurement and trading positions.

ENDS

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Centrica plc is listed on the London Stock Exchange (CNA)
Registered Office: Millstream, Maidenhead Road, Windsor, Berkshire SL4 5GD

Registered in England & Wales number: 3033654
Legal Entity Identifier number: E26EDV109X6EEPBKVH76
ISIN number: GB00B033F229

 

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