- Upgrade of long-term rating by one notch in recognition of RWE’s strategic realignment
Essen, 25 March 2021
“The fact that Fitch is upgrading our rating is further proof that RWE’s strategic realignment as one of the global leaders in renewables is being acknowledged by the capital market. We are investing billions of euros in the value-driven expansion of our portfolio of wind and solar power plants, and at the same time we are exiting reliably and responsibly from nuclear energy and coal. We have a clear goal here: to be carbon-neutral by 2040. Financially too, we are in an excellent position – with an outstanding business performance in 2020, a strong equity base and a low leverage factor.”
Markus Krebber, CFO of RWE AG
Fitch Ratings has upgraded RWE’s long-term rating by one notch to BBB+ with a stable outlook. The short-term rating was raised from F2 to F1 and the rating relevant to subordinated hybrid bonds was raised from BB+ to BBB-. Fitch acknowledged in particular RWE’s focus on expanding renewable energies. Thanks to long-term contracts, the growth expected in this area will go hand in hand with stable revenues. This raises RWE’s creditworthiness from the point of view of the rating specialists.
The rating agency considers the rigorous and reliable exit from coal as being a further key element in RWE’s strategic realignment.