DGAP-News: ENCAVIS AG: Scope Ratings confirmed investment grade issuer rating BBB- with stable outlook
DGAP-News: ENCAVIS AG
/ Key word(s): Rating/Financing
Scope Ratings confirmed its investment grade issuer rating BBB- with stable outlook on Encavis AG Hamburg, 10 March 2020 - SDAX-listed solar park and wind farm operator Encavis AG (Prime Standard, ISIN: DE0006095003) has been rated again by Scope Ratings (Scope) in an updated analysis confirming the investment grade range issuer rating (BBB-). The outlook for the rating is stable. Scope has updated its rating case and financial forecasts for Encavis AG. The update underpins the BBB-/Stable/S-2 issuer rating of Encavis AG and its financing subsidiary Encavis Finance BV as well as the BBB- rating for senior unsecured debt and BB for subordinated (hybrid) debt, such as the convertible hybrid bond (ISIN DE000A19NPE8). The BBB-/Stable issuer rating is strongly supported by the company's protected business model, bolstered by either prioritised feed-in of generated electricity under availability-based remuneration schemes or risk mitigation through long-term power purchase agreements (PPAs). The company's >> Fast Forward 2025 growth strategy, which earmarks a doubling of capacities by 2025 up to 3.4 Gigawatt is expected to stabilise the business profile as an independent power producer any further through a reduction of incremental effects from specific generation assets or regions. Reflecting the company's debt maturity profile, sound liquidity measures over the next few years and publicly communicated financial policy, Scope believes that the company will keep debt levels under control as it expands its asset base. 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 feel confirmed in our work by the investment grade rating awarded by Scope. It reflects again 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," welcomed Dr Christoph Husmann, CFO of Encavis AG, the updated analysis. "Encavis' excellent credit metrics increases the range of future growth financing options for Encavis and should also reduce our financing costs further," Dr Husmann added.
Scope published its initial public rating on Encavis AG and its debt-issuing subsidiary Encavis Finance BV on 18 March 2019. For the official credit rating action release click:
About ENCAVIS: Encavis AG's environmental, social and governance performance was evaluated by ISS-oekom, one of the world's leading ESG research and rating agencies and received the ISS-oekom Prime label. Further information on the company can be found at www.encavis.com Contact: Encavis AG Jörg Peters Head of Investor Relations & Public Relations ------------------------------------------------------------ Große Elbstraße 59 22767 Hamburg Fon: + 49 40 37 85 62-242 Fax: + 49 40 37 85 62-129 e-mail: [email protected] http://www.encavis.com Twitter: https://twitter.com/encavis
10.03.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | ENCAVIS AG |
Große Elbstraße 59 | |
22767 Hamburg | |
Germany | |
Phone: | +49 4037 85 62 -0 |
Fax: | +49 4037 85 62 -129 |
E-mail: | [email protected] |
Internet: | www.encavis.com |
ISIN: | DE0006095003 |
WKN: | 609500 |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 993765 |
End of News | DGAP News Service |
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993765 10.03.2020
Encavis AG Stock
Our community is currently high on Encavis AG with 3 Buy predictions and 1 Sell predictions.
However, we have a potential of -11.76% for Encavis AG as the target price of 15 € is below the current price of 17.0 €.