- The rating falls within the "investment grade" category, reflecting "adequate credit quality" to meet the company's financial obligations.
Fitch, an international rating agency, has assigned ACCIONA Energía a long-term "BBB-" rating with a "stable" outlook and a short-term "F3" rating.
The rating falls within the "investment grade" category, reflecting "adequate credit quality" to meet the company's financial obligations.
Following its recent IPO, ACCIONA Energía views its investment grade credit profile as a fundamental pillar of its strategy to optimize its cost of financing in order to maximize the value generated by its growth plan. ACCIONA Energy plans to double its size in terms of total renewable installed capacity from 10.7GW in 2020 to 20GW in 2025.
According to Fitch, the company's rating and outlook “reflect its solid and geographically diversified business profile as a pure renewable player with quasi-regulated production (…) and with long remaining useful life of its assets representing around 80% of its consolidated energy revenues.”
In addition, Fitch considers ACCIONA Energía has “generally positive regulatory frameworks and a clean and well-maintained asset base.”
The rating agency identifies ACCIONA Energía's operational and financial independence, the predictability of its revenues, its ambitious growth plan, its geographic diversification, and its commitment to maintaining an investment grade credit profile, among other factors, as the main contributors to the investment grade rating.