Moody's stabilizes Wintershall Dea view

Moody's Investors Service said it changed Wintershall Dea AG's outlook to stable from ratings under review and confirmed its ratings, including the Baa2 instrument ratings on the group's senior unsecured bank credit facilities. Moody's also confirmed the Baa2 ratings of the backed senior unsecured notes issued by Wintershall Dea Finance BV and the Ba1 rating of the backed subordinated notes issued by Wintershall Dea Finance 2 BV.

The stable outlook and ratings confirmations conclude the review for downgrade started on March 3, the agency said.

"The confirmation of Wintershall Dea's ratings reflects the company's commitment to run a financial policy in line with our expectations for a Baa2 rating, supported by the currently very strong balance sheet with €3.1 billion cash on balance by end of Q1 2022, and its attractive and growing production and reserve portfolio outside of Russia," said Janko Lukac, a Moody's vice president and senior analyst, in a press release.

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