Moody's maintains Transelectrica in the "Investment-Grade" category with a "stable" outlook

International rating agency Moody's Investors Service has confirmed the long-term rating "Baa3" for Transelectrica, while maintaining the stable outlook, according to a statement by the issuer published on the Bucharest Stock Exchange (BVB) website.

"The affirmation of the long-term rating "Baa3" (Investment-grade) reflects the company's low-risk profile, as the only operator providing the electricity transmission service in Romania, supported by the consistent implementation of key principles within a regulatory regime favorable to lending, financial performance and stability, combined with a low level of financial debt," the BVB report states.

Last month, Fitch revised the rating outlook of Nuclearelectrica and Romgaz from "stable" to "negative", maintaining them in the "BBB-" (Investment-grade) category for long-term debt.

During the period 2024-2033, Transelectrica will implement a development plan for the Electric Transmission Network approved by the National Energy Regulatory Authority, worth 9.49 billion lei, over two billion lei more than the previous plan, according to a recent company press release. The new plan includes investment projects already underway, as well as 12 new projects, structured on four priority development axes: RET re-engineering/modernization, consumer supply security, integration of production from renewable sources and new power plants in Dobrogea and Moldova, and increasing interconnection capacity.

For the first nine months of last year, Transelectrica reported a net profit of 410 million lei, double that of the January-September 2023 period, while operating income from activities with permitted profit amounted to 1.74 billion lei, up 16%. The company will present its preliminary results for last year on February 28.

The Romanian State, through the General Secretariat of the Government, owns 58.7% of the electricity carrier, whose stock market valuation amounts to about three billion lei.