Credit Rating

Corporate Rating

  • MOODY’S

  • Baa1

  • Last updated on 28 June 2019

Rating for the Guaranteed Euro Medium Term Note Programme

  • MOODY’S

  • Baa1

  • Last updated on 28 June 2019

Key Credit Metrics

2014/122015/122016/122017/122018/12
Total debt / total assets 23.1% 22.1% 21.7% 18.9% 17.6%
Secured debt / total assets 18.1% 16.5% 16.0% 13.0% 11.1%
EBITDA interest coverage 4.9x 4.7x 5.1x 5.5x 4.9x
Net debt / EBITDA 8.6x 8.8x 7.8x 7.1x 6.4x
Key Credit Metrics
2018
2017
2016
2015
2014
Dec 2018
Total debt / total assets
17.6%
Secured debt / total assets
11.1%
EBITDA interest coverage
4.9x
Net debt / EBITDA
6.4x