PPC Upgraded to ‘B’ with ‘Stable’ Outlook by S&P
Upgrade by two notches to ‘B’ from ‘CCC+’
Οverall upgrade of the long-term credit rating to ‘B’ from ‘B-‘
Expects a substantial increase in EBITDA
According to S&P the two notch upgrade in PPC’s standalone corporate rating confirms that the Company’s strategic repositioning and the improved Greek energy market fundamentals have transformed its competitive position, reducing past concerns over its liquidity and long-term sustainability.
The ‘Stable’ outlook underscores S&P’s expectation that PPC will continue to deliver on its transformation plan, with solid liquidity and improved margins. PPC’s strategic plan to convert its generation mix toward lower carbon dioxide (CO2) emissions improve its fleet competitiveness and long-term prospects.
As mentioned in their report, S&P expects a substantial increase in EBITDA and improvement in credit metrics on the back of higher profitability as PPC accelerates the closure of its lignite generation plants and shifts its competitive position in the retail market.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201204005362/en/
Website: https://www.dei.gr/el
View Korean version of this release
Contact
PUBLIC POWER CORPORATION S.A.
Sofia Dimtsa
Corporate Affairs & Communications Director
T: +302105293038
M: +306978778998
Fax: +30 2105241300
s.dimtsa@dei.com.gr
This news is a press release provided by Public Power Corporation S.A.. Korea Newswire follows these editorial guidelines.
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2021년 3월 15일 11:50