Elia Group SA/NV

News

• 27.10.2023
  Creditreform Rating has affirmed the unsolicited corporate issuer rating of Elia Group SA/NV at A. Creditreform Rating has also affirmed the unsolicited corporate issue rating of the long-term local currency senior unsecured notes issued by Elia Group SA/NV at A-. These issues are included in the list of ECB-eligible marketable assets, which can be found on the ECB's website. The outlook for the ratings has changed from stable to negative. The initial unsolicited short-term rating of Elia Group SA/NV has been set to L2. For more details regarding the ratings, please refer to our update report below.
• 21.12.2022
  Creditreform Rating has affirmed the unsolicited corporate issuer rating of Elia Group NV/SA at A. Creditreform Rating has also affirmed the unsolicited corporate issue rating of the long-term local currency senior unsecured notes issued by Elia Group NV/SA at A-. These issues are included in the list of ECB-eligible marketable assets, which can be found on the ECB's website. Creditreform Rating has set the outlook for each rating to stable. The addition of Watch UNW has been omitted. For more details regarding the ratings, please refer to our press release below.
• 06.07.2022
  Creditreform Rating has set the unsolicited corporate issuer rating of A of Elia Group NV/SA and the unsolicited corporate issue rating of A- of the EUR-denominated long-term senior unsecured issues of Elia Group NV/SA on Watch UNW. The debt securities are included in the ECB's list of eligible marketable assets, which is available on the European Central Bank's website. An outlook is not applicable. For further details on the ratings, please refer to the press release below.
• 17.03.2022
  Creditreform Rating has affirmed the unsolicited corporate issuer rating of Elia Group NV/SA at A. Creditreform Rating has also affirmed the unsolicited corporate issue rating of the long-term local currency senior unsecured notes issued by Elia Group NV/SA at A-. These issues are included in the list of ECB-eligible marketable assets, which can be found on the ECB's website. The outlook for the ratings has been changed to negative from stable. For more details regarding the ratings, please refer to our press release below.
• 08.07.2021
  Creditreform Rating AG confirmed the unsolicited corporate issuer rating of Elia Group S.A. at A with stable outlook. The primary reasons that led to this decision are the Company´s low business risk profile, which stems from the supportive regulatory regimes in both Belgium and Germany, the Group´s high degree of systemic relevance, and its natural and regional monopoly position as well as the close relationship to the Belgian and German state. Elia Group S.A. registers stable revenues, good margins and has an adequate capital structure. The stable outlook takes into account the current regulatory frameworks for 50Hertz (2019 – 2023) and Elia Transmission Belgium (2020 – 2023), as well as the updated investment plan. We continue to assume that the stability and support offered by the regulatory frameworks required for the financing of these investments continues to be present and believe that the planned investments in the current investment plan will not lead to a significant change in leverage in the course of the next year. However, the updated investment plans foresee a significant increase in comparison to previous investment plans and will partially require external financing, which might lead to a deterioration in the financial key figures in the medium term.
• 17.02.2020
  Creditreform Rating has confirmed the unsolicited Corporate Issuer Rating of Elia Group S.A./N.V. at A. The outlook is stable. The primary reasons that lead to this decision are the company´s low business risk profile, which stems from the supportive regulatory regimes in both Belgium and Germany, the Group´s high degree of systemic relevance, and its natural monopoly position. Elia Group S.A./N.V. registers stable revenues, good margins and has an adequate capital structure. For the current year, we expect an overall stable operative development.
  Elia Group S.A./N.V. reorganized its corporate structure in order to isolate the Belgian regulated activities (incl. Nemolink Ltd.) to prevent cross-subsidization under the new Belgian tariff methodology between the Belgian regulated activities and the Group´s other activities. CRA does not see any additional risks that could result from this structural change. In the course of the structural reorganization Elia Group S.A./N.V. (formerly known as Elia System Operator S.A./N.V.) transferred its TSO-activities to its subsidiary Elia Transmission Belgium S.A./N.V., changed into a holding company, which will hold the Group´s investments, and subsequently changed its name to Elia Group S.A./N.V.
• 20.10.2017
  Creditreform Rating has updated the unsolicited corporate rating of Elia System Operator N.V./S.A.