Euler Hermes Rating GmbH » Solar Chest S.A.

Solar Chest S.A.



The issuer of the Fixed Rate Se-cured Notes is Solar Chest S.A. (“Solar Chest”), a Belgian company wholly owned by municipal and provincial governments in the Walloon Region. The issue date is 30 June 2015. The bond was issued to finance the acquisition of 4,138,462 green certificates at the legally guaranteed minimum price of € 65 (excluding VAT) from Elia System Operator S.A./N.V. (“Elia”).

We gave Elia an issuer rating of A- in this connection on 12 July 2016.

Rating history Notation/outlook Rating report
12.07.2016 BBB+ / stable
17.07.2015 BBB+ / stable