Credit Rating

Corporate Rating

  • MOODY’S

  • Baa1

  • Last updated on 23 February 2024

Rating for the Guaranteed Euro Medium Term Note Programme

  • MOODY’S

  • Baa1

  • Last updated on 23 February 2024

Key Credit Metrics

2018/122019/122020/122021/122022/12
Total debt / total assets 17.6% 18.0% 23.0% 22.9% 22.5%
Secured debt / total assets 11.1% 4.4% 4.8% 0.0% 0.0%
EBITDA interest coverage 4.9x 4.5x 4.5x 4.6x 4.0x
Net debt / EBITDA 6.4x 6.0x 7.1x 6.9x 7.8x
Key Credit Metrics
2022
2021
2020
2019
2018
Dec 2022
Total debt / total assets
22.5%
Secured debt / total assets
0.0%
EBITDA interest coverage
4.0x
Net debt / EBITDA
7.8x