Fitch assigns Nuclearelectrica BBB-

Fitch Ratings said it assigned SN Nuclearelectrica SA a first-time long-term foreign-currency issuer default rating of BBB- with a negative outlook.

“The rating reflects Nuclearelectrica's strong market position as the sole producer of electricity from nuclear power plants in Romania, covering around 20% of the country's electricity demand, a solid operational record and a strong financial profile. This results in our assessment of the company's stand-alone credit profile (SCP) at bbb-,” Fitch said in a press release.

Nuclearelectrica plans to to raise new debt from major international lenders without state guarantees, the agency said.

The negative outlook mirrors that of the sovereign since the Romanian government is the company’s majority shareholder with an 82.49% stake.

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