Moody's has completed a periodic review of the credit rating of Latvenergo AS keeping it at the current level
March 11, 2020
On 10 March, the international credit rating agency Moody’s Investors Service (Moody's) completed a periodic review of the credit rating of Latvenergo AS keeping it on the investment grade Baa2 level with stable outlook and thus confirming stability and financial reliability of Latvenergo Group.
Last time, the credit rating of Latvenergo AS was affirmed on 15 October 2019. Upon affirmation of the credit rating, Moody’s took into account the decision of the Cabinet of Ministers of the Republic of Latvia to support a full unbundling of ownership of the electricity transmission system operator, which is planned by reducing the share capital of Latvenergo AS and unbundling capital shares of Latvijas elektriskie tīkli AS.
Apart from the financial sector, Latvenergo AS is the only company in Latvia having received an investment grade rating from an internationally recognised credit rating agency, and since February 2015 it has been Baa2 with a stable outlook.