Creditreform Rating has set the initial unsolicited corporate issuer rating of EnBW International Finance B.V. as well as its unsolicited corporate issue ratings of the long-term local currency senior unsecured issues at A-. The one-year outlook for the rating is stable. Due to the financial, corporate, and liability interrelationships, a rating assessment of EnBW International Finance B.V. is only meaningful in the context of the group. Consequently, we derive the unsolicited corporate issuer rating of EnBW International Finance B.V. from the unsolicited corporate issuer rating of EnBW Energie Baden-Württemberg AG. It is also rated A- / stable.