Research Update: Energo-Pro a.s. Outlook Revised To Stable On Successful Commissioning Of Turkish Assets; 'B+' Ratings Affirmed - S&P Global Ratings’ Credit Research

Research Update: Energo-Pro a.s. Outlook Revised To Stable On Successful Commissioning Of Turkish Assets; 'B+' Ratings Affirmed

Research Update: Energo-Pro a.s. Outlook Revised To Stable On Successful Commissioning Of Turkish Assets; 'B+' Ratings Affirmed - S&P Global Ratings’ Credit Research
Research Update: Energo-Pro a.s. Outlook Revised To Stable On Successful Commissioning Of Turkish Assets; 'B+' Ratings Affirmed
Published Dec 17, 2020
8 pages (3679 words) — Published Dec 17, 2020
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

On Nov. 30, 2020, Czech-incorporated electricity utility Energo-Pro a.s. announced the successful commissioning of Turkish hydropower projects. The transaction will increase EBITDA at the level of Energo-Pro's parent company, DK Holding Investments (DKHI), by about €70 million-€80 million annually from 2021, thanks to attractive U.S. dollar-denominated feed-in-tariff (FiT) for the next 10 years. We continue to base our rating on Energo-Pro on the 'b+' group credit profile (GCP) for DKHI, and we view Energo-Pro as a core subsidiary of DKHI. As a result, we are revising our outlook on Energo-Pro to stable from negative, and affirming our 'B+' long-term issuer credit rating on the group. We are also affirming our 'B+' issue rating on its senior unsecured debt. The stable

  
Brief Excerpt:

...- On Nov. 30, 2020, Czech-incorporated electricity utility Energo-Pro a.s. announced the successful commissioning of Turkish hydropower projects. The transaction will increase EBITDA at the level of Energo-Pro's parent company, DK Holding Investments (DKHI), by about 70 million-80 million annually from 2021, thanks to attractive U.S. dollar-denominated feed-in-tariff (FiT) for the next 10 years. - We continue to base our rating on Energo-Pro on the 'b+' group credit profile (GCP) for DKHI, and we view Energo-Pro as a core subsidiary of DKHI. - As a result, we are revising our outlook on Energo-Pro to stable from negative, and affirming our 'B+' long-term issuer credit rating on the group. We are also affirming our 'B+' issue rating on its senior unsecured debt. - The stable outlook reflects our expectations that consolidated funds from operations (FFO) to debt will remain above 12% from 2021 (corresponding to above 15% at Energo-Pro)....

  
Report Type:

Research Update

Ticker
4128790Z@CP
Issuer
ENERGO-PRO a.s.
GICS
Independent Power Producers & Energy Traders (55105010)
Sector
Global Issuers
Country
Czech Republic
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Energo-Pro a.s. Outlook Revised To Stable On Successful Commissioning Of Turkish Assets; 'B+' Ratings Affirmed" Dec 17, 2020. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Energo-Pro-a-s-Outlook-Revised-To-Stable-On-Successful-Commissioning-Of-Turkish-Assets-B-Ratings-Affirmed-2572148>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Energo-Pro a.s. Outlook Revised To Stable On Successful Commissioning Of Turkish Assets; 'B+' Ratings Affirmed Dec 17, 2020. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Energo-Pro-a-s-Outlook-Revised-To-Stable-On-Successful-Commissioning-Of-Turkish-Assets-B-Ratings-Affirmed-2572148>
  
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