Energy, Investments, Latvia, Rating

Thus, the green bonds issued by Latvenergo are the first green bonds in Central and Eastern Europe to be assigned a credit rating issued by international credit rating agency.

In accordance with the report of Moody’s, the green bonds in the amount of EUR 75 million issued by Latvenergo have received a "Baa2" credit rating and a stable outlook. The bonds were issued on June 10, 2015, within the second program for the issuance of bonds of Latvenergo for EUR 100 million, with a fixed coupon rate of 1.9% and maturity on June 10, 2022.

"The issuance of green bonds was an ambitious, but a rationally justified step. Our leading plants operating on renewable resources – hydroelectric power plants – have also been highlighted in the Group's credit rating assessment by Moody’s. Undoubtedly, the green bonds and their assessment is further proof to investors that Latvenergo operates effectively, and renewable resources is an advantage in the conditions of the open electricity market across the Baltics," says Latvenergo CEO Aris Zigurs.