- The rating falls within the "investment grade" category, reflecting "adequate credit quality" to meet the company's financial obligations.
DBRS Ratings (DBRS Morningstar), an international rating agency, has assigned a long-term "BBB (high)" rating with a "stable" trend to ACCIONA Energía.
The rating falls within the "investment grade" category, reflecting "adequate credit quality" to meet the company's financial obligations.
Following its recent IPO, ACCIONA Energía views its investment grade credit profile as a fundamental pillar of its strategy to optimize the cost of financing in order to maximize the value generated by its growth plan. ACCIONA Energy plans to double its size in terms of total installed renewable capacity from 10.7GW in 2020 to 20GW in 2025.
In its analysis, DBRS highlights the good risk profile of ACCIONA Energía's business, which "is supported by stable cash flows from regulated generation assets in Spain and private power purchase agreements (PPAs) from its international generation assets, representing between 40% and 45% of the company's EBITDA, respectively."
In addition, the rating agency also highlights the company's "good geographic diversification", "solid credit metrics, strong liquidity and good capital management policy", as well as "strong operating experience and a good track record in the development of energy projects."