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Euler Hermes Rating assigns BBB issuance rating to senior bond financing for offshore wind farm

Based on final terms & conditions for the € 832 million bond issue, Euler Hermes Rating has assigned a BBB issuance rating to the senior notes of Borkum Riffgrund 2 Investor Holding GmbH on December 14th, 2017.

Key rating considerations are a combination of moderate project risks mainly due to an attractive feed-in tariff and a proven O&M concept, moderate financial risks due to defensive gearing and adequate risk bearing capacities but also the largely mitigated construction and development risks.

> Summary of the rating report (pdf)