Karlsruhe. The internationally renowned rating agency Moody’s has confirmed the long-term A2 rating of EnBW Energie Baden-Württemberg AG and the short-term Prime-1 rating. The outlook for EnBW remains “stable”. The rating from Moody’s acknowledges EnBW’s strong market position in Baden-Württemberg, its competitive generation capacities and the successful focus on its core activities electricity and gas.
Moody’s considers EnBW’s current financial profile as a positive factor. Increasing regulation, the phase-out of nuclear power and emissions trading in Germany are seen as critical factors, as they could have a negative effect on the future development of earnings.
The confirmation of the rating and assessment of the outlook as “stable” reflects the rating agency’s expectation that EnBW will successfully manage the economic and political challenges of the future. In particular, the agency expects EnBW’s financial profile to remain solid despite its ambitious investment programme.
“After having completed our period of consolidation, we will now use the gained financial flexibility to achieve future growth and to expand and renew our business portfolio in the long run. The aim is to secure the future sustainability of the company. We are pleased that Moody’s shares our view of the development potential of EnBW,” says Hans-Peter Villis, CEO of EnBW.
Ingo Peter Voigt, Senior Vice President, Head of Finance/Investor Relations, adds: “By implementing the investment programme, EnBW will continue to apply the strict benchmarks decisive for publicly traded companies. The target of our financial strategy is to secure a rating in the “A” category in the medium term.”
With some six million customers, EnBW Energie Baden-Württemberg AG with its headquarters in Karlsruhe is the third-largest energy company in Germany. In 2007, EnBW generated annual revenue exceeding € 14 billion with more than 20,000 employees. Our core activities focus on the segments electricity, gas as well as energy and environmental services.