The rating is supported by the issuer’s hydropower reservoir utilization and strong credit metrics. Exposure to power price volatility and limited diversification constrains the rating.

The rating is driven by Østfold Energi’s low-cost and environmentally friendly hydropower generation as well as strong credit metrics. High volatility of achievable power prices and low diversification are constraints.

The rating is driven by Østfold Energi’s flexible and low-cost hydropower generation, paired with a strong financial risk profile.