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Moody’s didn’t adjust Eesti Energia's credit rating
BC, Tallinn, 28.08.2015.
Print version
Print versionMoody’s credit rating on Eesti Energia remained unchanged, at the level Baa2, with the stable rating outlook, reports the enterprise in a press release.
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According to Eesti Energia's CFO Andri Avila, in the current market situation, the fact that Moody’s did not adjust the credit rating was a positive signal, writes LETA.
“The difficult market situation where energy prices have fallen to record low levels, and oil prices have also fallen by half in comparison with last year's prices, has put Eesti Energia's financial indicators under pressure,” explained Avila. He added that Moody’s expressed their confidence in the sustainability of solidity of Eesti Energia's business operations.
Avila said that Eesti Energia have, despite difficult circumstances, managed to maintain profitability, largely due to risk-management transactions and to cutting costs in the enterprise.
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