OSLO: German-based rating agency Scope Ratings has today updated the rating report for Agder Energi AS and revises the outlook for issuer’s rating BBB+ from stable to negative. Scope states the outlook change is driven by the increased risk of financial risk profile pressures for a longer period due to low power prices prevailing in Norway.
The issuer’s senior unsecured debt is rated BBB+. Short term rating is confirmed at S-2. Updated rating report from Scope Ratings is enclosed.
Agder Energi is a Norwegian energy group involved in hydroelectric power generation, electricity distribution, electricity trading and services for customers in the business and consumer markets.