Moody's Ratings, the rating agency for the EPSO-G group of energy transmission and exchange companies, has affirmed its Baa1 credit rating with a stable outlook following a periodic review. The Baa1 investment grade credit reflects the Group’s strong financial position, moderate and balanced debt level, and stable and diversified income stream.
“Two years ago, we successfully entered the capital market with the first sustainability-related bond issue in the Baltics. This step allows EPSO-G to diversify its financing portfolio and makes a significant contribution to ensuring greater reliability of transmission networks, meeting sustainability objectives and reducing environmental impact”, says Mindaugas Keizeris, the CEO of EPSO-G.
According to Mr. Keizeris, record investments are being allocated to Lithuania's energy independence. Therefore, the Baa1 investment grade credit rating is significant to secure further sustainable financing for strategic energy projects.
Last year, the Group’s investment in projects to strengthen energy independence reached a record of almost EUR 243 million. This year, the EPSO-G group has planned more than EUR 250 million for investments in infrastructure projects.
In 2022 EPSO-G issued a sustainability bond, raising EUR 75 million. For the first bond issue of its kind in the Baltics, EPSO-G won one of the categories of the Nasdaq Baltic Market Awards 2023 – the most important event in the Baltic capital market.
The EPSO-G group of companies consists of the holding company EPSO-G and its six direct subsidiaries Amber Grid, Baltpool, Energy cells, EPSO-G Invest, Litgrid and Tetas. EPSO-G and its Group companies also hold shares in GET Baltic, Baltic RCC OÜ and TSO Holding AS. The rights and obligations of the sole shareholder of EPSO-G are exercised by the Ministry of Energy of the Republic of Lithuania.