EVN uses the services of two rating agencies, Moody’s and Standard & Poor’s, on a regular basis. Their ratings, which are based on objective credit ratings, give EVN flexible access to capital market financing outside the banking sector at attractive conditions and with longer terms.
The structural and economic challenges in the energy sector are also reflected in the rating agency estimates for the European utility companies. Subduing factors such as the on-going pressure on generation margins naturally have an effect on the credit standing of EVN. Conversely, the ratings are positively influenced, above all, by the stable and regulated core business in the network area of the Lower Austrian home market. The two agencies’ ratings for EVN remained generally unchanged during the 2013/14 financial year: Standard & Poor’s confirmed its BBB+ (stable outlook) in April and July 2014, while Moody’s retained its A3 rating, but reduced the outlook from stable to negative in July.
EVN therefore met its goal to maintain a rating in the good investment grade segment during the 2013/14 financial year.