S&P boosts Statkraft

S&P said it boosted Statkraft AS’ rating to A from A-.

“We expect that Statkraft will fully capitalize on its low generation cost and elevated energy prices over 2022 and 2023, resulting in a much stronger balance sheet. As Europe's largest generator of renewable energy, Statkraft is benefiting immensely from elevated prices, also because it is able to increase production when prices are favorable,” S&P said in a press release.

The agency said it now sees EBITDA of NOK 38 billion-NOK 43 billion, with electricity prices of €80/MWh-€100/per megawatt-hour for 2022. In its previous forecast, S&P said it estimated EBITDA of NOK 15 billion-NOK 18 billion based on €8 per megawatt-hour

The outlook is stable.

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