5/6/2023 Rating announcement EN
Scope upgrades issuer rating of Å Energi (previously known as Agder Energi) to A-/Positive
The upgrade is driven by prospects of sustained higher power prices, which strengthens Å Energi’s financials, in addition to an improved business risk profile. The Positive Outlook reflects further upside if leverage remain below 2.0x longer-term.
6/9/2022 Rating announcement EN
Scope confirms Agder’s BBB+ rating and raises Outlook to Positive
The rating actions are based on the soon-to be-merged AgderGlitre entity, though the merger is still subject approval by owners and regulators. The Positive Outlook is driven by the strong financial risk profile.
17/12/2020 Rating announcement EN
Scope places Agder Energi's BBB+ issuer rating under review for a developing outcome
The rating action reflects the progressing but uncertain outcome of merger talks with Glitre Energi.
12/8/2020 Rating announcement EN
Scope revises the Outlook to Negative from Stable on Agder Energi's BBB+ issuer rating
The Outlook change is driven by the increased risk of financial risk profile pressure for a longer period due to low power prices prevailing in Norway.
16/8/2019 Rating announcement EN
Scope affirms Norwegian utility Agder Energi at BBB+/Stable
The affirmation is driven by the utility's high hydropower production in 2018 as well as the effect on group metrics by the continued high investment and lower power production expected by Scope in the short to medium term.