Encavis AG receives investment grade issuer rating from Scope Ratings
Hamburg, 19 March 2019 - SDAX-listed Hamburg-based solar and wind farm operator Encavis AG has been rated for the first time by Scope Ratings (Scope) and received an investment grade range issuer rating (BBB-), the outlook for the rating is stable.
Scope"s positive rating reflects, among other things, Encavis" risk-averse business model from the operation of solar and wind power plants benefiting from long-term, state-guaranteed feed-in tariffs. The good rating was also awarded in view of the company"s consistent regional portfolio diversification and the high share of non-recourse financing used to finance its growth. As had been expected, Scope has thus confirmed Encavis" very good and sustainable creditworthiness.
Scope"s issuer rating gives international financial market participants clear guidance and an independent assessment of the company"s current and medium-term creditworthiness, thus ensuring greater security and transparency.
"We are vey happy about the investment grade rating awarded by Scope. It reflects the conservative financing policy pursued since 2016 and the resulting stable long-term balance sheet ratios as well as the very good financial performance of Encavis," says Dr. Christoph Husmann, CFO of Encavis AG. "Encavis" very good issuer rating also goes a long way towards strengthening our financing partners" confidence in the company"s excellent credit metrics. This not only increases the range of potential future growth financing options for Encavis, but should also reduce our financing costs," Husmann adds.
Further information on the Encavis" issuer rating from Scope Ratings can be found here: www.scoperatings.com