London, 13 December 2013 -- Moody's Investors Service has today affirmed the Baa1 senior unsecured ratings of Iberdrola S.A. (Iberdrola) and its guaranteed subsidiaries. Concurrently, Moody's has also affirmed the Baa1 senior unsecured ratings of Scottish Power Limited, which is 100% owned by Iberdrola and its subsidiaries. In addition, Moody's has affirmed the Prime-2 and Baa3 ratings of the affected entities. The outlook on all ratings is negative.

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