Following the rating affirmation at Baa2 Moody's publishes an updated Credit Opinion
The international credit rating agency Moody's Investors Service affirmed the credit rating of Latvenergo AS at Baa2 with a stable outlook. Consequently, on 25 October Moody's has published an updated Credit Opinion of Latvenergo AS.
Riga, 2019-10-28 07:58 CET --
Apart from the financial sector, Latvenergo AS is the only company in Latvia with an investment grade rating assigned by international credit rating agency.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 favorable terms. Moody's has been assigning the credit rating of Latvenergo AS since 2004 and it has been Baa2 with stable outlook since 2015.
The Credit Opinion published by Moody's is available on Latvenergo website, in the section Investors/ Rating.
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Latvenergo Group is one of the leading energy suppliers in the Baltics operating in electricity and thermal energy generation and trade, natural gas trade, electricity distribution services and lease of transmission system assets. 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 seven subsidiaries - Latvijas elektriskie tīkli AS (lease of transmission system assets), Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (trade of electricity and natural gas in Estonia), Elektrum Lietuva UAB (trade of electricity and natural gas in Lithuania), Enerģijas publiskais tirgotājs AS (administration of mandatory electricity procurement process) and Liepājas enerģija SIA (generation and trade of thermal energy in Liepaja, electricity generation). All shares of Latvenergo AS are owned by the state and held by the Ministry of Economics of the Republic of Latvia.