Energy, Estonia, Investments

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 09:22

Moody’s affirmed Elering's credit rating at A3

BC, Tallinn, 20.04.2015.Print version
The international credit rating agency Moody’s confirmed last week Estonian state-owned electricity grid operator Elering's long-term debt rating at A3, the rating outlook is stable, LETA/Public Broadcasting reports.

Moody’s explained the stability of the rating primarily with low business risk of the electricity and gas sector as a regulated business, Elering spokesman Ain Köster said.

 

According to the Chairman of the Board of Elering Taavi Veskimägi, the fact that Moody’s rating remaining high indicates that the company's plan for the purchase of the gas network was strong and fit Elering's current risk profile.

 

A3 rating is only two steps lower than Estonian state's A1 credit rating. Elering's credit rating has remained the same since 2011, when the company issued 225 million euros worth of bonds. Elering's debt amounted to 348 million euros at the end of last year.






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