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Eurogrid GmbH -- Moody's confirms Eurogrid's Baa1 rating, stable outlook

Moody's Investors Service (Moody's) has today confirmed the Baa1 backed senior unsecured ratings of Eurogrid GmbH (Eurogrid) as well as the (P)Baa1 backed senior unsecured rating of the company's EUR5.0 billion EMTN programme. All debt issued under the programme is guaranteed by Eurogrid's subsidiaries 50Hertz Transmission GmbH (50Hertz) and 50Hertz Offshore GmbH. This rating action concludes the rating review that was prompted by Eurogrid's announcement, on 23 March 2018, that Elia System Operator SA/NV (Elia) had decided to exercise its pre-emption right to acquire an additional 20% stake in Eurogrid International CVBA/SCRL (Eurogrid International), the immediate parent holding of Eurogrid GmbH.