European rating agency. Objective, transparent, independent.
European rating agency. Objective, transparent, independent.

Eurogrid GmbH

Rating History

Rating Watch Outlook Decision Date Action Validity Date Maximum Validity
A Watch UNW 01.07.2022 06.07.2022
A Outlook NEG 11.03.2022 17.03.2022
A Outlook STA 02.07.2021 08.07.2021

News

  • 06.07.2022
    Creditreform Rating has set the unsolicited corporate issuer and issue ratings of A of Eurogrid GmbH and of the EUR-denominated long-term senior unsecured issues of Eurogrid GmbH on Watch UNW. The debt securities are included in the ECB's list of eligible marketable assets, which is available on the European Central Bank's website. An outlook is not applicable. For further details on the ratings, please refer to the press release below.
  • 17.03.2022
    Creditreform Rating has affirmed the unsolicited corporate issuer rating of Eurogrid GmbH at A. Creditreform Rating has also affirmed the unsolicited corporate issue rating of the long-term local currency senior unsecured notes issued by Eurogrid GmbH 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 has been changed to negative from stable. For more details regarding the ratings, please refer to our press release below.
  • 08.07.2021
    Creditreform Rating AG assigned the unsolicited corporate issuer rating of Eurogrid GmbH a rating of A with stable outlook. The primary rating driver contributing to this rating result is the fact that Eurogrid GmbH, via 50Hertz Transmission GmbH and 50Hertz Offshore GmbH, operates in a regulated environment, which is supported by a regulatory framework. This enables the Company to generate relatively stable revenues, margins and cash flow. The 80 percent shareholding of Elia Group S.A. has a positive influence on the rating. At the same time, as Elia Group S.A. has a large influence on the Group´s financial and strategic alignment the rating of Eurogrid GmbH is constrained by the rating of Elia Group S.A. The remaining 20 percent are indirectly owned by the German government via the Kreditanstalt für Wiederaufbau (KfW), which also has a positive influence on the rating. The stable outlook is based on the current business environment and regulatory framework (2019 – 2023), and assumes that the stability and support offered by the regulatory framework continues to be present. However, the new updated investment plan will require significant external financing, which might lead to a deterioration in the financial key figures over the coming years.