Credit Rating

Corporate Rating

  • MOODY’S

  • Baa1

  • Last updated on 3 March 2021

Rating for the Guaranteed Euro Medium Term Note Programme

  • MOODY’S

  • Baa1

  • Last updated on 3 March 2021

Key Credit Metrics

2016/122017/122018/122019/122020/12
Total debt / total assets 21.7% 18.9% 17.6% 18.0% 23.0%
Secured debt / total assets 16.1% 13.0% 11.1% 4.4% 4.8%
EBITDA interest coverage 5.1x 5.5x 4.9x 4.5x 4.5x
Net debt / EBITDA 7.8x 7.2x 6.4x 6.0x 7.1x
Key Credit Metrics
2020
2019
2018
2017
2016
Dec 2020
Total debt / total assets
23.0%
Secured debt / total assets
4.8%
EBITDA interest coverage
4.5x
Net debt / EBITDA
7.1x