Credit rating S&P - Fitch

During 2021, Iren was rated BBB - with Positive Outlook by Standard & Poor's for the first time for both long-term creditworthiness and senior unsecured debt. The Fitch agency also confirmed the BBB rating with Stable Outlook.

 

Below are the ratings obtained by Iren for creditworthiness.

Standard & Poor’s

  • Last update 09/12/2021
  • Long term Issuer Default Rating BBB -
  • Outlook Positive

Fitch

  • Last update 22/12/2021
  • Long term Issuer Default Rating BBB
  • Outlook Stable

 

Standard & Poor's assigns the first rating to Iren: 'BBB-' Positive outlook

On 09 December 2021, the Standard & Poor's rating agency assigned, for the first time to the Iren Group, its long-term credit rating at the "BBB-" level with a "Positive" outlook. The rating obtained expresses the soundness and quality of Iren's creditworthiness and reflects the group's solid positioning in Italy as one of the largest multi-utilities with wide diversification of activities especially in regulated activities and strong territorial presence. In addition, the acceleration of capital expenditures under the new Business Plan, primarily targeting organic growth and energy transition, combined with an expected continued improvement in credit metrics, support the "positive" outlook by the rating agency.

 

Standard & Poor's positively assesses also the Group's liquidity profile.

 

The rating of bond issues corresponds to the rating assigned to the company.

Fitch confirms Iren's rating at "BBB" with "stable" outlook

On 22 December 2021, the Fitch rating agency confirmed the Group's BBB rating with a stable outlook. The rating is based mainly on the update of the business plan to 2030, which calls for significant growth in investment while maintaining a financial structure consistent with the assigned rating. The maintenance of a business portfolio consisting mainly of regulated and semi-regulated activities (72% of Ebitda), the creation of value and the stability guaranteed by the integration of the various businesses are elements considered positive.

 

Fitch positively assesses also the Group's liquidity profile.

 

The rating of bond issues corresponds to the rating assigned to the company.

Rating History