• Upgrade met twee stappen naar ‘B’ van ‘CCC+’
• Ο algemene upgrade van de kredietrating op lange termijn naar ‘B’ van ‘B-’
• Verwacht een substantiële stijging van de EBITDA

ATHENE, Griekenland– (BUSINESS WIRE) – In de jaarlijkse onderzoeksupdate die op 27 november 2020 werd gepubliceerd, heeft S&P het stand-alone credit profile (SACP) van PPC met twee stappen naar ‘B’ geüpgraded van ‘CCC+’, wat resulteerde in een algehele upgrade van de kredietwaardigheid op lange termijn van PPC tot ‘B’ van ‘B-‘.

Volgens S&P bevestigt de upgrade van PPC’s stand-alone bedrijfsclassificatie dat de strategische herpositionering van het bedrijf en de verbeterde fundamentals van de Griekse energiemarkt zijn concurrentiepositie hebben veranderd, waardoor eerdere zorgen over zijn liquiditeit en duurzaamheid op lange termijn zijn verminderd.

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

ATHENS, Greece–(BUSINESS WIRE)– In its annual research update released on 27 November 2020, S&P upgraded PPC’s stand-alone credit profile (SACP) upward by two notches to ‘B’ from ‘CCC+’, resulting in an overall upgrade of the long-term credit rating of PPC to ‘B’ from ‘B-‘.

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/

Contacts

Sofia Dimtsa
Corporate Affairs & Communications Director

PUBLIC POWER CORPORATION S.A.
T: +302105293038

M: +306978778998

Fax: +30 2105241300

E-mail: s.dimtsa@dei.com.gr