Bergen, August 31. 2023 – Småkraft, Europe’s largest small-scale hydroelectric producer with 222 power plants in Norway and Sweden, has engaged Nordic Credit Rating (“NCR”) to conduct an independent assessment of Småkraft’s financial performance (“Rating”). NCR is an independent rating agency specializing in independent credit analyses within the Nordic market. The agency employs a methodology for evaluating secured credits, which Småkraft has utilized in connection with its debt issuances.
NCR has assigned Småkraft a BB Rating at the corporate level. Furthermore, NCR has assigned a BBB– rating for the company’s secured credits. The rationale behind this distinction is that the secured credits exhibit a low debt level relative to the value of the associated power plants.
Consequently, NCR has granted Småkraft’s credits an “Investment Grade” rating.
Småkraft is one of Norway’s foremost renewable energy developers, and our ambitions are high. To realize our goals, it is crucial to attract affordable financing for our projects. The rating assigned to us by NCR underscores Småkraft’s long-term ability to establish robust financing structures, leading to reduced capital costs and, in turn, increased renewable power production,” says Erik Røysem Sterud, Chief Financial Officer of Småkraft.
For more information, please contact:
Erik Røysem Sterud, CFO, +47 911 63 907