Announcements
Drinks
Instrument data
Issuer
Currency
XXX
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AAA
Outlook:
Stable
AAA
Outlook:
Stable
Latest change
New
12/09/2025
General information
Rating
Public
Solicited
With issuer participation
UK endorsed
EU Rated
Eiko Sievert
Lead analyst
Jakob Suwalski
Committee chair
11/4/2025 Rating announcement EN
Scope affirms NRW's AAA rating with Stable Outlook
A strong institutional framework, excellent market access, conservative financial, debt and liquidity management, and sound economic fundamentals are strengths. Relatively high debt and some budget pressures, with moderate flexibility, are challenges.
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