European rating agency. Objective, transparent, independent.
European rating agency. Objective, transparent, independent.

EnBW Energie Baden-Württemberg AG

Rating History

Rating Watch Outlook Decision Date Action Validity Date Maximum Validity
A- Outlook STA 01.09.2023 07.09.2023
A- Outlook NEG 25.05.2022 31.05.2022
A- Outlook STA 13.04.2021 15.04.2021

News

  • 07.09.2023
    Creditreform Rating has affirmed the unsolicited corporate issuer rating of EnBW Energie Baden-Württemberg AG as well as the unsolicited corporate issuer rating of EnBW International Finance B.V. at A-. Creditreform Rating has also affirmed the unsolicited corporate issue rating of the long-term local currency senior unsecured notes issued by EnBW International Finance B.V. at A-. These issues are included in the list of ECB-eligible marketable assets, which can be found on the ECB's website. The outlook has changed from negative to stable. The initial short-term ratings of EnBW Baden-Württemberg and EnBW International Finance B.V. have been set to L2. For more details regarding the ratings, please refer to our update report below.
  • 31.05.2022
    Creditreform Rating has affirmed the unsolicited corporate issuer rating of EnBW Energie Baden-Württemberg AG as well as the unsolicited corporate issuer rating of EnBW International Finance B.V.at A-. Creditreform Rating has also affirmed the unsolicited corporate issue rating of the long-term local currency senior unsecured notes issued by EnBW International Finance B.V. at A-. These issues are included in the list of ECB-eligible marketable assets, which can be found on the ECB's website. The outlook for the ratings changed to negative from stable. For more details regarding the ratings, please refer to our press release below.
  • 15.04.2021
    Creditreform Rating has set the initial unsolicited corporate issuer rating of EnBW Energie Baden-Württemberg AG at A-. This attests to the company's high creditworthiness and low risk of default. The result is based on the results of our key financial figures analysis, which forms the basis for the rating assessment, as well as on the shareholder structure with a certain market position and systemic relevance and our general assessment of the company's business model and future orientation, which has had the effect of increasing the rating overall. The proximity to the state factor thus has a significant impact on the rating. The one-year outlook for the rating is stable. The outlook is based on our assessment of EnBW AG's business model, which we consider to be less susceptible to economic cycles and comparatively crisis-resistant. A high share of earnings is generated in regulated markets. The COVID 19 pandemic so far has had only a significant impact on the financial result, but not on the operating business. Therefore, we see EnBW's rating less affected by a long-term development, but at best by temporary effects.