Based on final terms & conditions for the € 832 million bond issue, Euler Hermes Rating has assigned a BBB issuance rating to the senior notes of Borkum Riffgrund 2 Investor Holding GmbH on December 14th, 2017.
Key rating considerations are a combination of moderate project risks mainly due to an attractive feed-in tariff and a proven O&M concept, moderate financial risks due to defensive gearing and adequate risk bearing capacities but also the largely mitigated construction and development risks.
