Moody's assigned the highest grade to Green Bonds issued by the Government of the Republic of Lithuania
Vilnius, Lithuania, 2018-07-02 15:33 CEST --
Ministry of Finance of the Republic of Lithuania provided the following information on June 29, 2018:
"International credit rating agency Moody's Investors Service assigned the grade (GB1 Excellent) to the issue of Green Bonds issued by the Government of the Republic of Lithuania at the end of April.
It is the first issue of government securities in the Baltic States, the funds derived from which are used to implement green projects, i. e. to modernize multi-apartments buildings and increase their energy efficiency.
The Moody's Investors Service press release is attached to this message.
Assessment grade GB1 Excellent means that a green bond issuer has adopted an excellent approach to manage, administer, allocate proceeds to and report on environmental projects financed with proceeds derived from green bond offerings. Prospects for achieving stated environmental objectives are excellent.
GBAs are expressed using a scale ranging from 1 (Excellent) to 5 (Poor) that encapsulates Moody’s views, distilled from an evaluation of five broad factors that are weighted, as follows: Organization (15%), Use of Proceeds (40%), Disclosure on the Use of Proceeds (10%), Management of Proceeds (15%) and Ongoing Reporting and Disclosure (20%)."
It is the fourth issue of green bonds, marked with a "green leaf" symbol on the Nasdaq Baltic Bond List. More information on Sustainable Bonds in Nasdaq Nordic and Baltic exchanges can be found in the announcement here.
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