S&P affirms Eesti Energia

S&P said it affirmed its BBB long-term issuer credit rating on Eesti Energia AS. The outlook is negative.

S&P also affirmed its BBB issue ratings on Eesti Energia's senior unsecured debt.

At the same time, the agency removed these issuer credit and debt ratings from CreditWatch with negative implications, where S&P placed them on May 30.

“The rating actions point to our view that Eesti Energia has alleviated previous liquidity concerns by securing adequate funds for this year's acquisition of Nelja Energia AS, a Baltic renewable energy producer and developer. In addition, we believe that Eesti Energia is committed to supporting the recovery of its credit metrics after the acquisition, including potential cuts in capital expenditures (capex) or an IPO of a minority stake in its renewable generation segment,” S&P said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.