Creditreform Rating AG confirmed the unsolicited corporate issuer rating of Iberdrola S.A. at BBB+. The outlook remains stable for the time being. The primary rating drivers contributing to the rating result are the Group´s solid financial profile, its high degree of revenues covered by regulated activities and long-term contracts and its geographically diversified asset and concession base. During the first half of 2020 the impact of COVID-19 has remained limited. We expect a slight deterioration in the Group´s financial key figures for the 2020 business year caused by a small reduction in earnings and a slight increase in indebtedness due to COVID-19 and the Group´s extensive investment plan. However, we believe that the Group will be able to continue to develop positively and benefit from its business model and its growing asset base. We do not rule out a change in outlook if the situation regarding the COVID-19 pandemic would worsen.
Creditreform Rating has carried out an unsolicited rating of Iberdrola S.A. The rating has been set to BBB+ with stable outlook.