Corporate | 4 April 2017 10:13
PNE WIND AG: Creditreform Rating upgrades corporate rating to BB
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DGAP-News: PNE WIND AG / Key word(s): Rating
Cuxhaven, 04.04.2017: Creditreform Rating has upgraded the corporate rating of PNE WIND AG from BB- to BB. The successful operational and financial development of PNE WIND AG is thereby reflected in the corporate rating.
According to Creditreform, the upgrade of the rating is based on the considerably improved fundamental data in the business year 2016 due to the sale of the wind farm portfolio at the end of the year. The pursued activities of PNE WIND AG in the onshore and offshore wind project business remained unchanged with various risks that might affect the asset, financial and earnings position as well as the business and liquidity position. The specific risk of the business model, political risks as well as the intensified conditions of competition had a limiting effect. In addition, the rating was limited by the planned buildup of an East European onshore wind farm portfolio with corresponding medium-term effect on the fundamental data. The financial risk was scheduled in particular by the bullet payment of the EUR 100 million bond in mid-2018. Despite the currently good fundamental data, the rating was limited by the abovementioned aspects, according to Creditreform. Contact: PNE WIND AG Rainer Heinsohn Head of Corporate Communication Tel: +49(0) 47 21 – 7 18 – 453 Fax: +49(0) 47 21 – 7 18 – 373 E-mail: Rainer.Heinsohn@pnewind.com
04.04.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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| Language: | English |
| Company: | PNE WIND AG |
| Peter-Henlein-Straße 2-4 | |
| 27472 Cuxhaven | |
| Germany | |
| Phone: | 04721 / 718 – 06 |
| Fax: | 04721 / 718 – 200 |
| E-mail: | info@pnewind.com |
| Internet: | http://www.pnewind.com |
| ISIN: | DE000A0JBPG2, DE000A1R0741, , DE000A12UMG0, |
| WKN: | A0JBPG, A1R074, , A12UMG, |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |