EnBW-Bonds
In order to finance business developments, EnBW draws not only on internal financing means but also on international markets for debt capital. A variety of instruments give EnBW flexible access to the debt capital market.
Ratings
Standard & Poor's has rated EnBW's credit standing since December 2000, Moody's since January 2002. EnBW has been evaluated by the third important rating agency Fitch for the first time in May 2009.
Current EnBW-Ratings:
|
|
Moody's
|
Standard & Poor's
|
Fitch
|
|---|---|---|---|
|
Long-term Rating
|
A3
|
A-
|
A-
|
|
Short-term Rating
|
Prime-2
|
A-2
|
F2
|
|
Outlook
|
negative
|
stable
|
stable
|
|
Analyst
|
Carole Ratsimandresy
|
Pierre George and Björn Ben Schurich
|
Chris Moore and Artur Galbarczyk
|
Rating Scales of Moody’s, S&P and Fitch
|
|
Moody's
|
Standard & Poor's
|
Fitch
|
|
|---|---|---|---|---|
|
|
Aaa
|
AAA
|
AAA
|
Investment grade
|
|
|
Aa1
|
AA+
|
AA+
|
Investment grade
|
|
|
Aa2
|
AA
|
AA
|
Investment grade
|
|
|
Aa3
|
AA-
|
AA-
|
Investment grade
|
|
|
A1
|
A+
|
A+
|
Investment grade
|
|
|
A2
|
A
|
A
|
Investment grade
|
|
|
A3
|
A-
|
A-
|
Investment grade
|
|
|
Baa1
|
BBB+
|
BBB+
|
Investment grade
|
|
|
Baa2
|
BBB
|
BBB
|
Investment grade
|
|
|
Baa3
|
BBB-
|
BBB-
|
Investment grade
|
|
|
Ba1
|
BB+
|
BB+
|
Non-Investment grade
|
|
|
Ba2
|
BB
|
BB
|
Non-Investment grade
|
|
|
Ba3
|
BB-
|
BB-
|
Non-Investment grade
|
|
|
B1
|
B+
|
B+
|
Non-Investment grade
|
|
|
B2
|
B
|
B
|
Non-Investment grade
|
|
|
B3
|
B-
|
B-
|
Non-Investment grade
|
|
|
Caa
|
CCC
|
CCC
|
Non-Investment grade
|
|
|
Ca
|
CC
|
CC
|
Non-Investment grade
|
|
|
C
|
C
|
C
|
Non-Investment grade
|
|
|
|
D
|
D
|
Non-Investment grade
|
Quellen: Moody's, S&P, Fitch
EnBW-Rating history:
|
|
Moody's
|
Standard & Poor's
|
Fitch
|
|---|---|---|---|
|
2018
|
A3/stable
|
A-/stable
|
A-/stable
|
|
2017
|
Baa1/stable
|
A-/stable
|
A-/stable
|
|
2016
|
A3/negative
|
A-/negative
|
A-/stable
|
|
2015
|
A3/negative
|
A-/stable
|
A-/stable
|
|
2014
|
A3/negative
|
A-/stable
|
A-/stable
|
|
2013
|
A3/negative
|
A-/stable
|
A-/stable
|
|
2012
|
A3/negative
|
A-/stable
|
A-/stable
|
|
2011
|
A3/negative
|
A-/stable
|
A-/stable
|
|
2010
|
A2/stable
|
A-/negative
|
A/stable
|
