Standard & Poor’s
Standard & Poor’s
- Last update 27/04/2022
- Long term Issuer Default Rating BBB
- Outlook Stable
Credit rating S&P - Fitch
Following the update of the Business Plan to 2030 and the presentation of the economic and financial results, both rating agencies deemed there were conditions to revise upwards the rating or outlook for the Iren Group's long-term creditworthiness and senior unsecured debt. In particular, S&P improved the rating to "BBB" Outlook "Stable" from the previous "BBB-" Outlook “Positive", while Fitch confirmed the rating at BBB, increasing the Outlook to "Positive" from "Stable".
Standard & Poor’s
Fitch
Fitch raises Outlook to “Positive”, confirming Iren’s rating at “BBB”
On May 11, 2023 Fitch Ratings announced an upward revision of Iren Group’s Outlook to “Positive” from “Stable”, while confirming its rating at “BBB” both for long-term creditworthiness and senior unsecured debt. The Outlook revision is driven by Iren's improving position on its financial metrics and the rating reflects the well-integrated and balanced business mix of the Group predominantly exposed to regulated and quasi-regulated activities, which allows stable performance in the current volatile energy market. Fitch also expresses a positive view on the Group's state of good liquidity.
Standard & Poor's raises the Group's rating to "BBB"
April 27, 2023, Standard & Poor's Global Ratings Agency (S&P) announced an upward revision of its rating for the long-term creditworthiness of the Iren Group to "BBB" Outlook "Stable" from the previous "BBB-" Outlook "Positive". The same rating is also given to senior unsecured debt. The rating upgrade by S&P analysts reflects the resilience of the Group's business model demonstrated during 2022 and the update of the strategic plan at 2030, that includes significant positioning in regulated businesses to support stable future cash flows. The Stable Outlook also reflects S&P analysts' expectations of Iren's management's commitment to maintain its current rating level and balanced financial policy. From a financial perspective, the assigned rating also expresses the Group's state of good liquidity, with strong credibility in the capital market.
Rating History
Data
11/05/2023
27/04/2023
07/12/2022
21/11/2022
22/12/2021
09/12/2021
20/10/2020
01/07/2020
27/01/2020
03/10/2019
28/11/2018
20/12/2017
19/12/2016
15/10/2015
Long-Term Issuer
Default Rating (IDR)
BBB
BBB
BBB-
BBB
BBB
BBB-
BBB
BBB
BBB
BBB
BBB
BBB
BBB-
BBB-
Outlook
Positive
Stable
Positive
Stable
Stable
Positive
Stable
Stable
Stable
Stable
Stable
Stable
Stable
Stable
Rating document
N.a.
N.a.