RATING AGENCY MOODY’S UPGRADES HOLDING SLOVENSKE ELEKTRARNE’S LONG-TERM CREDIT RATING

On Friday, 6 September 2019, the rating agency Moody’s upgraded the long–term family rating (CFR) of the company Holding Slovenske elektrarne (HSE) from Ba2 to Ba1. The upgrade confirms the ability of the HSE Group, as the leading producer of electricity in Slovenia, to honour its financial obligations and maintain credit indicators at an appropriate level.

Moody’s expect that HSE will continue to deleverage successfully in the coming years, under the assumptions of favourable trends in electricity prices on the back of the growing demand for electricity in the Balkans region, carbon allowance prices remaining at least at current levels, i.e. EUR 25/tonne, a modest capital expenditure programme and an expected absence of dividends to shareholders.

Stojan Nikolić, director general of HSE, expressed his satisfaction on the occasion and said: “For HSE, the upgrade of the credit rating is a confirmation of the company successfully implementing the set objectives in the past and, at the same time, a confirmation of the adequacy of the goals set for the future. Higher credit rating certainly boost our reputation both at home and in the international environment and makes it easier for us to implement our vision. We thus remain a respectable group from the aspects of business, finance and commerce, and one which meets its commitments fully and in a timely manner. Our future plans are ambitious, and we will remain one of the largest and most successful Slovenian business groups.”

 

More information is available at https://www.moodys.com/research/Moodys-upgrades-Holding-Slovenske-Elektrarnes-rating-to-Ba1-from-Ba2–PR_409612