DGAP-News: PNE WIND AG / Key word(s): Rating
PNE WIND AG: Credit rating remains unchanged
10.04.2015 / 11:25
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Corporate News
PNE WIND AG: Credit rating remains unchanged
Cuxhaven, April 10, 2015 - The rating of the international wind farm
developer PNE WIND AG remains unchanged: Creditreform Rating today set the
rating of PNE WIND AG initially to BB-, as had the Euler Hermes rating
agency before. The decisive factor for the rating assessment is the
currently adequate financing structure combined with a well filled project
pipeline. When this is implemented as planned, corresponding sales,
earnings and liquidity contributions are to be expected in the future.
However Creditreform Rating sees significant risks may arise for the Group.
The YieldCo strategy for the German market will lead to a higher level of
advance financing required up to the realisation of earnings. As
Creditreform also says, the asset, financial and earnings situation will be
influenced by typical project risks from the onshore and offshore business
activities in Germany and abroad. In addition, the agency is expecting
short-term potential risks due to the covenant breach at the level of the
WKN AG subgroup and the dispute with a member of the Supervisory Board and
majority shareholder. Should these risks materialise, potentially a
deterioration of the rating can be expected.
PNE WIND group profile
With its headquarters in Cuxhaven, PNE WIND AG plans and realises wind farm
projects on land (onshore) and on the high seas (offshore). In doing so,
its core competence lies in the development, planning, realisation,
financing, operation and sale of wind farms with a subsequent service
offering. To date, the company has already successfully developed wind
farms with a total nominal output of over 2,100 MW.
In addition to its business activities in the established German home
market, PNE WIND AG is increasingly expanding into dynamic growth markets
and is already represented in joint ventures and by subsidiary companies in
14 countries in Europe, Africa and North America. In these countries, wind
farm projects with a nominal output of over 5,000 MW are currently being
developed and are to be completed in the medium term.
PNE WIND AG is developing offshore wind farm projects, of which four major
projects in German waters have already been approved. The offshore
department is developing own projects and projects for customers with a
nominal capacity of up to 4,700 MW.
Contact:
Contact:
PNE WIND AG
Rainer Heinsohn
Head of Corporate Communication
Tel: +49(0) 47 21 - 7 18 - 453
Fax: +49(0) 47 21 - 7 18 - 373
E-mail: Rainer.Heinsohn@pnewind.com
PNE WIND AG
Investor Relations
Scott McCollister
Tel: +49(0) 47 21 - 7 18 - 454
Fax: +49(0) 47 21 - 7 18 - 373
E-mail: Scott.McCollister@pnewind.com
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Language: English
Company: PNE WIND AG
Peter-Henlein-StraÃe 2-4
27472 Cuxhaven
Germany
Phone: 04721 / 718 - 06
Fax: 04721 / 718 - 200
E-mail: info@pnewind.com
Internet: http://www.pnewind.com
ISIN: DE000A0JBPG2, DE000A0B9VG7, , DE000A1R0741, , DE000A12UMG0
WKN: A0JBPG, A0B9VG, , A1R074, , A12UMG
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart
End of News DGAP News-Service
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343027 10.04.2015
DGAP-News: PNE WIND AG: Credit rating remains unchanged
| Source: EQS Group AG