GreenVolt gets first rating

 In News, Ratings agencies, Renewables

Portugal’s renewable energy company GreenVolt has received its first rating from a ratings agency.

The company led by João Manso Neto got a BBB investment grade rating from European ratings company EthiFinance that according to its site “provides investors, companies and organisations with solutions to the challenges of financing as well as environmental and societal transformation”.
The rating paves the way for the company to get better financing conditions on the markets reports the newspaper Expresso.
“The classification attributed by the European ratings agency rates (GreenVolt’s) debt as ‘investment grade’ that reflects confidence in the strategy outlined for the renewable energy segment, the moderate level of borrowing needed to implement this same strategy, and the solidity of its shareholding structure”, states a note from the agency issued on Friday.
The classification paves the way for the issue of fresh rounds of securities that may contribute towards implementing the strategy for growth GreenVolt has outlined, and which it has fast-tracked in recent months following the appearance of new opportunities as a result of the programme REPowerEU announced by the European Union.
REPowerEU is a project to promote and provide affordable, secure and sustainable energy for Europe in response to the hardships and global energy market disruption caused by Russia’s invasion of Ukraine, and involves saving energy, producing clean energy, and diversifying energy supplies.
João Manso Neto, CEO of GreenVolt says that the rating is “extremely important” for companies as it “recognises work already done” and helps to achieve company growth”.