S&P Global Ratings affirm Ellevio’s credit rating, improving outlook to stable

On July 12, 2021, Standard & Poor’s, the global credit rating agency, affirmed its credit rating on both the senior secured debt and the subordinated debt issued by Ellevio. The outlook for the rating is changed from negative to stable due to improving regulatory environment.

In the research update, S&P Global Ratings states that the Swedish parliament’s passing of the legislation allowing DSOs to carry forward under-recovered amounts from previous periods for future investments “signals a broad understanding for increased investments, triggered by the increasing pace of the energy transition.” The stable outlook reflects the improving Swedish regulatory environment, and Ellevio’s flexible financial policy.

”It is positive to see that S&P affirms our current credit ratings, and thereto raises the outlook to stable. This is a confirmation of our long-term financing strategy and important for our continued investments into a sustainable electricity network that enables the climate transition,” said Jan Seveborg, Senior Vice President Treasury.

The full research update is available on ellevio.se

For further information

Jan Seveborg, Senior Vice President Treasury,
+46 70 344 51 63, jan.seveborg@ellevio.se

About Ellevio

With almost one million customers, Ellevio AB (publ) is one of Sweden’s largest distribution network operators. Together with our customers we take an active role in the journey toward a fossil-free society. Our electricity grids are the backbone that connects electricity producers and consumers, enabling an increased share of renewable electricity, the electrification of transport and industry, as well as creating the prerequisites for new climate-smart services for our customers.

We have more than 500 co-workers and employ indirectly about 3,000 people around the country. Our head office is in Stockholm and we are owned by the pension trustees Folksam, The First Swedish National Pension Fund, The Third Swedish National Pension Fund, and OMERS Infrastructure. Read more at ellevio.se