The credit rating of PPC in B + and the positive outlook is maintained by Standard & Poor’s, after the reduction of the State participation below 51%.
In its new report, S&P points out that it could further upgrade PPC’s credit rating to BB- within the next 6-12 months as long as operating performance remains the same or the Greek Republic upgrades to BB +.
At the same time, it maintains the debt of the Company in B + despite the fact that the percentage of the State was reduced. S&P estimates that government support remains strong as a guarantor.
In fact, it recognizes the progress that has been made at the group level in terms of reducing business risk and for this reason upgrades the corresponding indicator (operational risk management) to “fair” from “weak” (weak). It is noted that this upgrade gives a greater chance for a new upgrade within the next 6 months.
At the same time, he points out that PPC has a fully funded investment plan. As a result, it sees less implementation risk in PPC’s strategic business plan and positively evaluates the upgraded plan to withdraw the lignite plants.
Finally, it emphasizes PPC’s proven ability to access funds.
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