S&P affirms NET4GAS

S&P said it affirmed NET4GAS s.r.o.’s BBB long-term corporate credit rating and senior unsecured debt rating.

The outlook is stable.

The affirmation follows NET4GAS' decision to redeem its CZK 11 billion (€406 million) shareholder loans. The agency understands from the management team that NET4GAS will fund this redemption using CZK 6.6 billion of equity contributed by its existing shareholders, CZK 2.5 billion from cash reserves and debt drawdown, and CZK 1.9 billion gained by netting off loans its parent, NET4GAS Holdings, owes to it.

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