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International Internet Magazine. Baltic States news & analytics Monday, 11.12.2023, 03:41

S&P Global Ratings improves credit outlook for Lithuania's Ignitis Grupe

BC, Vilnius, 12.11.2020.Print version
International credit rating agency S&P Global Ratings has improved the credit rating outlook of Ignitis Grupe, Lithuania's state-owned energy group, from negative to stable and kept its BBB+ credit rating, informed Darius Maikstenas, board chairman and CEO of Ignitis Grupe.

Darius Maikstenas, board chairman and CEO of Ignitis Grupe, says the group's IPO in October, had impact on the decision.

"Ignitis Grupe's IPO in October had positive impact on the company's capital structure, which determined the positive change of the credit rating's outlook. It is another appreciation of Ignitis Grupe's strategy of resistant growth and good news for investors, reflecting the group's reliability and determination to create long-term value for shareholders," Maikstenas said in a statement.

During its October 2 IPO, which was the largest among Baltic countries, Ignitis attracted 450 mln euros.

The company's shares were listed on the Nasdaq Vilnius Stock Exchange and Vilnius Stock Exchange on October 7.

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