Creditreform Rating has set the SME Issuer Rating of PV-Invest GmbH at B+. The outlook is stable. The current high share of revenues resulting from regulated electricity generation, which leads to stable and predictable revenues and cash flows, has a stabilizing effect on the rating. The current market conditions and significant efficiency improvements in the industry also contribute positively to the rating result. The rating is currently constrained by the financial analysis of the year 2020 and the targeted expansion of the business. However, we noticed a positive trend in the financial key figures. The capital increase of 15 Mio. EUR by Liechtenstein Beteiligungs GmbH, of which the proceeds will be used for the targeted expansion of the business, also has a positive effect on the rating.