Fitch Ratings has affirmed Romanian-based nuclear power generation company S.N. Nuclearelectrica S.A.'s Long-Term Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook, the company reported on Friday in a statement to the Bucharest Stock Exchange (BVB), told Agerpres.
"The BBB- rating, with stable outlook, reflects, according to the report published by Fitch Rating Agency, the strong market position as the sole producer of nuclear energy, covering approximately 20% of Romania's consumption needs and a strong operational track record; the solid level of profitability, with similar outlook for the period 2024-2028; the major investment plans; the involvement in medium-term investment projects with reference to the Units 3 and 4 Project and the SMR Project; the solid relationship with the Romanian State, including the shareholding links," according to the company's statement.
The company also says that in order to carry out major investment projects, from the perspective of a corporate governance approach focused on a high level of transparency, SN Nuclearelectrica SA has requested the evaluation and obtaining of the rating in order to position itself on the market and implicitly to grant the possibility of an objective evaluation of SNN's capabilities by the international community of institutional investors.
Nuclearelectrica is a national electricity, thermal and nuclear fuel corporation in Romania, which operates under the authority of the Ministry of Energy, the Romanian state holding 82.49% of the shares, and the other shareholders 17.50%, after the company's listing on the stock exchange in 2013.
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