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Moody's confirms Eurogrid's Baa1 rating, stable outlook
Berlin (pta007/02.08.2018/08:00) -
Moody's Investors Service has confirmed the Baa1 backed senior unsecured rating of Eurogrid GmbH (Eurogrid) as well as the (P)Baa1 backed senior unsecured rating of the company's EUR 5.0 billion EMTN programme. All debt issued under the programme is guaranteed by Eurogrid's subsidiaries 50Hertz Transmission GmbH (50Hertz) and 50Hertz Offshore GmbH. The rating outlook remains unchanged at "stable".
Eurogrid GmbH (Eurogrid) is a company active in the energy industry, having its registered office in Berlin. Eurogrid invests in electricity infrastructure and offers services to its customers in the sector. The company is majority-owned by Belgian TSO Elia System Operator NV/SA (Elia), listed on the Belgian stock exchange. Eurogrid owns 100 % of the shares in German electricity transmission system operator 50Hertz Transmission GmbH (50Hertz).
With about 1,000 collaborators, 50Hertz takes care of the operation and the expansion of the transmission network. Furthermore, the company is responsible for the management of the overall electrical system throughout the German Länder of Berlin, Brandenburg, Hamburg, Mecklenburg-Western Pomerania, Saxony, Saxony-Anhalt and Thuringia. As transmission system operator active in the Central European market, 50Hertz is responsible for the secure integration of renewable energies, the development of the European electricity market and for maintaining a high level of security of supply. As a European transmission system operator, 50Hertz is part of the Elia Group and a member of ENTSO-E, the European Network of Transmission System Operators for Electricity.
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