British Energy bonds rated junk as £1.6bn shares relist

British Energy, the restructured UK power group relisting its shares in London today, has had a £550m ($1bn) new bond issue assigned a junk credit rating after emerging from a two-year, radical financial overhaul.

The new bonds, issued as part of the firm's financial restructuring, were rated three notches below investment grade territory at BB minus by Fitch, the international ratings agency.

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