Moody's affirms Latvenergo's Baa2 rating and assigns (P)Baa2 EMTN programme rating
November 3, 2025
On 31 October 2025, Moody's Ratings affirmed Baa2 credit rating of Latvenergo AS. The outlook remains stable.
The rating affirmation reflects that Latvenergo continues to be supported by its strong market position in Latvia and its status as a leading electricity supplier in the Baltics. The company further benefits from relatively stable cash flows from its regulated distribution grid operations.
Concurrently, Moody's assigned a (P)Baa2 rating to Latvenergo's new senior unsecured Euro Medium Term Note (EMTN) Programme. As previously communicated, according to the investment financing plans, Latvenergo intends to raise EUR 300 - 400 million per year over the next 3 years through bond issuances in the capital markets.
The Baa2 rating is an investment-grade rating. It is used by local and international financial institutions to evaluate the company’s credit risk and helps the company secure financing on favourable terms. Moody’s has been assigning credit rating to Latvenergo AS since 2004, and the rating has remained at Baa2 with a stable outlook since 2015.