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CEZ Credit Rating Outlook Changed to Negative at Moody’s

May 13 (Bloomberg) -- Moody’s affirms CEZ’s A2 rating and changes outlook to negative from stable, citing “ongoing decline in the outlook for electricity generation in central Europe,” according to a statement. Moody’s also says: *Power prices won’t recover in “near-to-medium” term CEZ “particularly exposed” to changes in power price because its fleet is predominantly fixed-cost in nature *Low power prices to weigh on CEZ’s financial profile from 2014 *CEZ’s capex, dividend to face more funding challenge from 2013 onwards: *Change doesn’t factor in “additional risk” of investing in new nuclear reactors

To contact the reporter on this story: Ladka Bauerova in Prague at lbauerova@bloomberg.net

To contact the editor responsible for this story: Stephen Cunningham at scunningha10@bloomberg.net

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