Today, Moody's Investors Service ("Moody's") has affirmed the A3 ratings of Energias de Portugal, S.A. ("EDP") with a stable outlook.

The above action followed Moody's earlier rating action to place the Aa2 ratings of the Government of the Republic of Portugal ("RoP")on review for possible downgrade. Moody's expects that, in the event of a downgrade, Portugal's Aa2 rating would fall by one, or at most two, notches.

Furthermore, Moody's has stated that a downgrade in the RoP's rating by up to 2 notches would not impact the current uplift on EDP's rating unless this action were to lead Moody's to review its current assessment of moderate support.


EDP – Energias de Portugal, S.A.