Riga, 2017-02-16 14:56 CET (GLOBE NEWSWIRE) -- By affirming the credit rating of Latvenergo AS, Baa2, stable, as strong points of Latvenergo Group the international credit rating agency Moody’s emphasises its cost competitive and environmentally clean hydro generation asset base, contribution from regulated distribution and transmission segment operations and strong financial profile.
The international credit rating agency Moody’s foresees that in the context of the further evolvement and development of Latvia electricity market, the company will be able to maintain its financial profile in line with the current rating.
The received credit rating is one of proofs on Group's successful operation that is granted by an international organization. Last year, Moody's assigned the highest rating to green bonds issued by Latvenergo, while this year Nasdaq granted the award for the best investor relations in the Baltics.
Additional information:
Jānis Irbe
Group Treasurer
Phone: +371 67 728 239
E-mail: investor.relations@latvenergo.lv
About Latvenergo
Latvenergo Group is a pan-Baltic energy company, engaging in electricity and thermal energy generation and supply, electricity distribution services and lease of transmission system assets. Latvenergo Group holds one-third of the entire Baltic electricity market, thus ensuring its leadership in the Baltic electricity supply. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several years in a row. International credit rating agency Moody’s has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable.
Latvenergo Group includes the parent company Latvenergo AS (electricity and thermal energy generation and supply) and its subsidiaries Latvijas elektriskie tīkli AS (lease of transmission system assets), Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (electricity supply in Estonia), Elektrum Lietuva UAB (electricity supply in Lithuania), Enerģijas publiskais tirgotājs AS (administration of electricity mandatory procurement process) and Liepājas enerģija SIA (electricity and thermal energy generation and supply).