Published: 2021-02-11 16:06:12 CET
Other information disclosed according to the rules of the Exchange

Moody's has completed a periodic review of the rating of Latvenergo AS

On 11 February, the international credit rating agency Moody's Investors Service (Moody's) has completed a periodic review of the credit rating of Latvenergo AS (Baa2, stable).

Riga, 2021-02-11 16:06 CET -- Moody’s has reassessed the appropriateness of the rating of Latvenergo AS in the context of the relevant principal methodologies, recent developments, and a comparison of the financial and operating profile to similarly rated peers.

Latvenergo investment grade rating Baa2 reflects Latvenergo's strong competitive position in Latvian electricity market, its cost-competitive and environmentally clean hydro generation asset base, a strong contribution from regulated distribution activities as well as strong financial profile.

Apart from the financial sector, Latvenergo AS is the only company in Latvia having received an investment grade rating from an internationally recognized credit rating agency, and since February 2015 it has been Baa2 with a stable outlook.

Additional information:
Jānis Irbe
Group Treasurer
Phone: +371 29 453 897

About Latvenergo

Latvenergo Group is one of the leading energy suppliers in the Baltics operating in electricity and thermal energy generation and trade, natural gas trade and electricity distribution services. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several times. International credit rating agency Moody's has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable.

Latvenergo Group is comprised of the parent company Latvenergo AS (generation and trade of electricity and thermal energy, trade of natural gas) and subsidiaries - Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (trade of electricity and natural gas in Estonia), Elektrum Lietuva UAB (trade of electricity and natural gas in Lithuania), Enerģijas publiskais tirgotājs AS (administration of mandatory electricity procurement process) and Liepājas enerģija SIA (generation and trade of thermal energy in Liepaja, electricity generation). All shares of Latvenergo AS are owned by the state and held by the Ministry of Economics of the Republic of Latvia.