Moody’s gives A2 to Statnett notes

Moody's Investors Service said it affirmed the A2 and Prime-1 long-term and short-term issuer ratings of Statnett SF.

Concurrently, the agency assigned an A2 senior unsecured debt rating to the new €500 million 1.25% notes maturing April 2030 issued under the group's €4 billion euro medium-term note program (unrated).

The outlook is stable.

Moody’s said the affirmation reflects: (a) Statnett's improved cost efficiency; (b) the delivery of key investment projects, to-date, on schedule; and (c) Moody's expectation that, as a result, the company will maintain credit metrics in line with the agency's ratio guidance for the existing rating throughout the peak of its large investment program.

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