Moody's Ratings has affirmed Baa2 credit rating of Latvenergo AS. The outlook remains stable.
The rating affirmation reflects Latvenergo stable business profile, its significant role in Latvia's energy sector, and its strong position in the Baltic electricity market. The company's financial stability is further supported by its investments in renewable energy assets and the operation of the regulated distribution grid.
Moody's Ratings Credit Opinion will follow within 1-2 weeks.
Latvenergo AS credit rating Baa2 is an investment grade rating. The credit rating is used by local and international financial institutions for evaluating the company's credit risk and it facilitates the company to attract financing on favourable terms. Moody's has been assigning the credit rating to Latvenergo AS since 2004 and it has been Baa2 with stable outlook since 2015.
Additional information:
Janis Irbe
Group Treasurer
Phone: +371 29 453 897
E-mail: investor.relations@latvenergo.lv
www.latvenergo.lv
About Latvenergo
Latvenergo Group is one of the leading energy suppliers in the Baltics operating in electricity and thermal energy generation and trade, natural gas trade and electricity distribution services. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several times. International credit rating agency Moody's has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable.
Latvenergo Group is comprised of the parent company Latvenergo AS (generation and trade of electricity and thermal energy, trade of natural gas) and subsidiaries - Sadales tikls AS (electricity distribution), Elektrum Eesti OÜ (trade of electricity and natural gas, development of solar and wind parks in Estonia), Elektrum Lietuva UAB (trade of electricity and natural gas, development of solar and wind parks in Lithuania), Elektrum Next SIA (development of solar and wind parks), Laflora Energy SIA (development of wind park), DSE Aizpute Solar SIA (development of solar park), Latvijas veja parki SIA (development of wind parks), Telšiu vejo parkas, UAB (development of wind park in Lithiania), Energijas publiskais tirgotajs AS (administration of mandatory electricity procurement process) and Liepajas energija SIA (generation and trade of thermal energy, electricity generation). All shares of Latvenergo AS are owned by the state and held by the Ministry of Economics of the Republic of Latvia.
