Iren announced that “the rating agency S&P Global Ratings has confirmed the long-term credit rating at the “BBB-” level with a “Positive” outlook. The same rating is also attributed to senior unsecured debt”.
“The rating – states Iren’s note – expresses the solidity and quality of Iren’s creditworthiness and reflects, in the agency’s opinion, the progress with respect to the Business Plan to 2030 and the resilience of the economic and financial results in the current market context characterized by the volatility of the energy scenario and by regulatory interventions. The positive outlook is supported by solid investment grade metrics and a business model
diversified environment that counter current macroeconomic and regulatory uncertainties”.
“From a financial point of view, the assigned rating also expresses the good liquidity of the Group, the high credibility on the capital market and the excellent relationship with the banks, thanks also to an ever greater focus on sustainable finance instruments.
“Confirmation of the investment grade rating for Iren is the result of an integrated business model that makes it possible to overcome the complexities of the current scenario characterized by high energy prices and impactful regulatory interventions – said Gianni Vittorio Armani, Chief Executive Officer and General Manager of Iren – Despite this difficult market context, the Group’s industrial objectives are in line with the targets of the 2030 Business Plan, recording, in particular, a time advance on the renewable capacity development schedule”.