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European rating agency. Objective, transparent, independent.

Iberdrola S.A.

Rating History

Rating Watch Outlook Decision Date Action Validity Date Maximum Validity
BBB+ Outlook STA 20.12.2021 23.12.2021
BBB+ Outlook STA 12.08.2020 17.08.2020
BBB+ Outlook STA 03.05.2019 16.05.2019

News

  • 23.12.2021
    Creditreform Rating AG confirmed the unsolicited corporate issuer rating of Iberdrola S.A. at BBB+. The outlook remains stable. The primary rating drivers contributing to the rating result are the Group´s solid financial profile, its high degree of revenues covered by regulated activities and long-term contracts and its geographically diversified asset and concession base. In order to retain its leadership position in the energy transition, Iberdrola wants to invest EUR 75 billion in the period between 2020 and 2025 and EUR 150 billion in the period up to 2030 to ensure the continuance of its energy transition. This will result in an acceleration of its investment program, leading to increasing cash-outflows that will exceed operating cash-flow generation and might put the rating under pressure. This would be the case in the event of a (sustained) deterioration in its credit metrics by increased indebtedness if the Group will not be able to find suitable equity solutions.
  • 17.08.2020
    Creditreform Rating AG confirmed the unsolicited corporate issuer rating of Iberdrola S.A. at BBB+. The outlook remains stable for the time being. The primary rating drivers contributing to the rating result are the Group´s solid financial profile, its high degree of revenues covered by regulated activities and long-term contracts and its geographically diversified asset and concession base. During the first half of 2020 the impact of COVID-19 has remained limited. We expect a slight deterioration in the Group´s financial key figures for the 2020 business year caused by a small reduction in earnings and a slight increase in indebtedness due to COVID-19 and the Group´s extensive investment plan. However, we believe that the Group will be able to continue to develop positively and benefit from its business model and its growing asset base. We do not rule out a change in outlook if the situation regarding the COVID-19 pandemic would worsen.
  • 16.05.2019
    Creditreform Rating has carried out an unsolicited rating of Iberdrola S.A. The rating has been set to BBB+ with stable outlook.