&P Global Ratings affirm Ellevio’s credit rating
On June 30, 2020, 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 sustained as negative.
In the research update, S&P Global Ratings states “Ellevio will maintain high capital expenditure (capex) in the coming two years and, together with flexible financial policy, maintain credit metrics above our thresholds.”
The negative outlook reflects the uncertain situation regarding the Swedish regulatory framework, with ongoing appeals, and limited credit metric headroom.
”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
For further information
Jan Seveborg, Senior Vice President Treasury,
+46703445163, jan.seveborg@ellevio.se
About Ellevio
With almost one million customers, Ellevio is one of Sweden’s largest distribution network operators. 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
