Scope Hamburg GmbH » News » Rating Actions » Scope Hamburg affirms the A- instrument rating of Solar Chest SA and withdraws the rating

Scope Hamburg affirms the A- instrument rating of Solar Chest SA and withdraws the rating

The rating has been withdrawn for business reasons following the repayment of the Fixed Rate Secured Notes with the total issue volume of € 275 million and the related interest costs.

The latest information on the rating, including rating reports and related methodologies, is available on this LINK .

Rating action
Scope Hamburg has affirmed the A- issue rating of Solar Chest SA and has subsequently withdrawn the instrument rating. The withdrawal of the instrument rating follows the repayment of the last tranche (€ 100 million) and related accrued interest on 30 June 2022 of Fixed Rate Secured Notes that were issued for the acquisition of green certificates in 2015/2016 with an original issuance volume of € 275 million.

Rating rationale
The A- affirmation of the instrument rating reflects company’s repayment of the last tranche of € 102.6 million (including accrued interest) on 30 June 2022.

Outlook and rating-change drivers
Not applicable as the rating has been withdrawn.

Stress testing & cash flow analysis
No stress testing was performed. Scope Hamburg performed its standard cash flow forecasting for the company.

More information you will find here