Euler Hermes Rating GmbH » News » Rating Actions » Euler Hermes Rating assigns an A- issuer credit rating to Elia System Operator S.A./N.V. with stable outlook

Euler Hermes Rating assigns an A- issuer credit rating to Elia System Operator S.A./N.V. with stable outlook

Euler Hermes Rating assigns an A- issuer credit rating to Elia System Operator S.A./N.V.. We expect the rating to remain stable over the next twelve months.

In our view the Elia Group has a low business risk because of ownership and concession of the transmission grid operator and regional monopolies in Belgium and Germany. We consider the Elia Group’s financial risk to be moderate. Taking into consideration the recovery of regulatory costs, secured cash flows and returns on equity, we perceive the earning potential and the financing structure to be appropriate.

> Summary of the Rating Rationale (PDF)