NextEra Energy Inc.'s Proposed Equity Units Rated 'BBB'

NEW YORK (S&P Global Ratings) June 18, 2024--S&P Global Ratings today assigned its 'BBB' issue-level rating to Juno Beach, Fla.-based NextEra Energy Inc.'s (NEE) proposed $2 billion equity units, which include a purchase contract issued by NEE that obligates the owner to purchase NEE's common stock by no later than June 1, 2027, and a re-marketable series N debenture issued by subsidiary NextEra Energy Capital Holdings Inc. due June 1, 2029. We rate these securities 'BBB', two notches below our 'A-' issuer credit rating on NEE. Our 'BBB' issue-level rating reflects the equity units' deferability and subordination. All our other ratings on NEE remain unchanged. We are assigning high equity content (100% equity) to the equity units based on the

...June 18, 2024 NEW YORK (S&P Global Ratings) June 18, 2024--S&P Global Ratings today assigned its '###' issue-level rating to Juno Beach, Fla.-based NextEra Energy Inc.'s (NEE) proposed $2 billion equity units, which include a purchase contract issued by NEE that obligates the owner to purchase NEE's common stock by no later than June 1, 2027, and a re-marketable series N debenture issued by subsidiary NextEra Energy Capital Holdings Inc. due June 1, 2029. We rate these securities '###', two notches below our 'A-' issuer credit rating on NEE. Our '###' issue-level rating reflects the equity units' deferability and subordination. All our other ratings on NEE remain unchanged. We are assigning high equity content (100% equity) to the equity units based on the proposed terms. The rating on the equity units applies to NextEra's obligation to issue common shares under the forward contract. The company intends to use the net proceeds to fund investments in energy and power projects and for general...

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