11-12-2018 PRESS RELEASE
S&P Global Ratings affirm Ellevio’s credit rating
On November 30, 2018, Standard and 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 stable.
In the research update, S&P Global Ratings states, “the stable outlook on Ellevio's senior secured debt reflects the group's steady and predictable earnings”. Nevertheless, S&P expects that the “implementation of the new regulatory framework in 2020 with lower WACC will lead to forced price decreases and therefore put pressure on credit ratios”.
S&P views Ellevios liquidity position as strong, based on Ellevio's adequate headroom under all its financial covenants and available liquidity sources and highlights the company’s protective financing structure and flexible financial policy and networks development strategy.
Rating scoreSenior Secured Debt Rating: BBB/StableSubordinated Debt Rating: BB+/Stable
”It is positive to see that S&P affirms our current credit ratings, it is a confirmation of our long term financing strategy,” says Jan Seveborg, Senior Vice President Treasury.
The full research update is available on ellevio.se