Creditreform Rating has affirmed the unsolicited corporate issuer rating of EnBW Energie Baden-Württemberg AG as well as the unsolicited corporate issuer rating of EnBW International Finance B.V.at A-. Creditreform Rating has also affirmed the unsolicited corporate issue rating of the long-term local currency senior unsecured notes issued by EnBW International Finance B.V. at A-. These issues are included in the list of ECB-eligible marketable assets, which can be found on the ECB's website. The outlook for the ratings changed to negative from stable. For more details regarding the ratings, please refer to our press release below.
Creditreform Rating has set the initial unsolicited corporate issuer rating of EnBW International Finance B.V. as well as its unsolicited corporate issue ratings of the long-term local currency senior unsecured issues at A-. The one-year outlook for the rating is stable. Due to the financial, corporate, and liability interrelationships, a rating assessment of EnBW International Finance B.V. is only meaningful in the context of the group. Consequently, we derive the unsolicited corporate issuer rating of EnBW International Finance B.V. from the unsolicited corporate issuer rating of EnBW Energie Baden-Württemberg AG. It is also rated A- / stable.