US credit rating agency Fitch affirms rating of Romanian energy network operator Electrica
Fitch Ratings affirmed the BBB- rating of Romanian state-owned energy grid operator Electrica S.A. on Monday, September 14, citing its resilient business profile and the company’s transition from a network operator to a vertically integrated utility provider.
Radu Dumitrescu · Journalist
· 2 min read
Specifically, Electrica’s Long-Term Issuer Default Rating (IDR) and senior unsecured debt rating were affirmed at ‘BBB-’, with a Stable Outlook. The rating affirmation reflects Electrica’s electricity distribution operations, which generate most of its EBITDA, within a stable regulatory framework, although less mature than that in Western European countries, Fitch says in a report analyzed by Profit.ro.
The rating also took into account the agency’s expectations for the “normalization” of the profitability of the supply business, as well as a growing contribution from renewable generation as the group implements its investment plan through 2031.
