Credit Rating

Corporate Rating

  • MOODY’S

  • Baa1

  • Last updated on 3 March 2022

Rating for the Guaranteed Euro Medium Term Note Programme

  • MOODY’S

  • Baa1

  • Last updated on 3 March 2022

Key Credit Metrics

2017/122018/122019/122020/122021/12
Total debt / total assets 18.9% 17.6% 18.0% 23.0% 22.9%
Secured debt / total assets 13.0% 11.1% 4.4% 4.8% 0.0%
EBITDA interest coverage 5.5x 4.9x 4.5x 4.5x 4.6x
Net debt / EBITDA 7.2x 6.4x 6.0x 7.1x 6.9x
Key Credit Metrics
2021
2020
2019
2018
2017
Dec 2021
Total debt / total assets
22.9%
Secured debt / total assets
0.0%
EBITDA interest coverage
4.6x
Net debt / EBITDA
6.9x