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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

The Capital Markets News section is sponsored by the Bucharest Stock Exchange 

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Fitch confirms Romanian electricity group Electrica’s BBB rating

International rating agency Fitch has confirmed the corporate rating of BBB (Investment Grade), with a Negative outlook, for the Electrica Group (EL), a leader in the distribution and supply of electricity in Romania.

The negative perspective is imposed by the rating of Romania (BBB- with negative perspective) as Fitch considers that the rating of the company must be limited to one notch above that of the Romanian state, its main shareholder. Any revision of the Outlook of the Romanian sovereign rating back to stable would result in a similar action for Electrica’s rating.

In Fitch’s opinion, the BBB rating continues to reflect Electrica Group’s solid financial profile, adequate liquidity, low leverage level, and the fact that the distribution segment dominates the group’s activities.

Fitch also viewed as positive for the analysis of Electrica’s credit profile the consolidations achieved through the mergers of the distribution subsidiaries and, respectively, of the energy services subsidiaries, as they have simplified the group structure and is estimated to provide for costs savings and improvement of internal business processes.

In the rating agency’s opinion, the group’s business profile proved to be solid, resilient to the COVID-19 outbreak and related economic shock.

The volumes of distributed and respectively supplied energy in 2020 were only slightly lower than in 2019, while the investment projects in the distribution area were unfolded according to the planning.

andrei@romania-insider.com

(Photo source: Shutterstock)

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

The Capital Markets News section is sponsored by the Bucharest Stock Exchange 

BVB
 

Fitch confirms Romanian electricity group Electrica’s BBB rating

International rating agency Fitch has confirmed the corporate rating of BBB (Investment Grade), with a Negative outlook, for the Electrica Group (EL), a leader in the distribution and supply of electricity in Romania.

The negative perspective is imposed by the rating of Romania (BBB- with negative perspective) as Fitch considers that the rating of the company must be limited to one notch above that of the Romanian state, its main shareholder. Any revision of the Outlook of the Romanian sovereign rating back to stable would result in a similar action for Electrica’s rating.

In Fitch’s opinion, the BBB rating continues to reflect Electrica Group’s solid financial profile, adequate liquidity, low leverage level, and the fact that the distribution segment dominates the group’s activities.

Fitch also viewed as positive for the analysis of Electrica’s credit profile the consolidations achieved through the mergers of the distribution subsidiaries and, respectively, of the energy services subsidiaries, as they have simplified the group structure and is estimated to provide for costs savings and improvement of internal business processes.

In the rating agency’s opinion, the group’s business profile proved to be solid, resilient to the COVID-19 outbreak and related economic shock.

The volumes of distributed and respectively supplied energy in 2020 were only slightly lower than in 2019, while the investment projects in the distribution area were unfolded according to the planning.

andrei@romania-insider.com

(Photo source: Shutterstock)

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