trending Market Intelligence /marketintelligence/en/news-insights/trending/dPeCW0WRrdYwdcTJAz6_Ng2 content esgSubNav
In This List

Moody's upgrades Verbund on financial strength, stable expansion

Blog

Insight Weekly: M&A outlook; US community bank margins; green hydrogen players' EU expansion

Blog

Research Brokers Accelerate Their Coverage of Electric Vehicles

Blog

SEC Climate Disclosure Requirements Heating Up: How to Take Action

Blog

Insight Weekly: US bank M&A; low refinancing eases rates impact; Texas crypto mining booms


Moody's upgrades Verbund on financial strength, stable expansion

Moody's upgraded Verbund AG's senior unsecured ratings to A3 from Baa1 with a stable outlook.

The rating agency said the upgrade reflects the Austrian utility's "consistently strengthening financial profile, mainly on the back of higher achieved power prices."

Verbund in September 2019 announced a 39% year-over-year increase in EBITDA for the reported period of nine months. This has translated into a reduction in leverage, with its funds from operations to net debt ratio exceeding 50% on 12-month basis.

Moody's believes that the company's financial metrics give it sufficient flexibility to expand in the renewable sector and invest in transmission infrastructure, while maintaining a strong profile.