Moody's rates GEN-I green bond GB1

Moody's Investors Service said it assigned a green bond assessment of GB1 (excellent) to the €14 million green bonds due March 2, 2024 issued by GEN-I Sonce doo.

The GB1 assessment of this first issue of green bonds in Slovenia is driven by the use of proceeds to construct qualifying solar power projects, as well as an expectation of comprehensive impact reporting, Moody's said.

The assessment is driven by an expectation that the proceeds of the bonds will be used entirely for investments that comply with green bond principles, including renewable energy, energy efficiency and pollution prevention, the agency said.

The proceeds will be used predominantly to fund the construction of solar power plants on residential homes and commercial properties, Moody's said, as well as their insurance and maintenance.

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