Euler Hermes Rating Assigns BBB Issuance Rating to Senior Bond Financing for Offshore Wind Farm

HAMBURG, Germany, December 21, 2017 /PRNewswire/ --

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.

Further background information on this subject can be found at http://www.ehrg.de/en/publications/

Euler Hermes Rating GmbH (Euler Hermes Rating) was founded in 2001 as an independent European rating agency of the Euler Hermes and Allianz Group focusing on issuer and issue ratings. Euler Hermes Rating is registered as a credit rating agency (CRA) in accordance with Regulation (EC) No 1060/2009 of the European Parliament and Council (as amended) and is considered as an external credit assessment institution (ECAI) by the European Banking Authority (EBA). Euler Hermes Rating is a subsidiary of Euler Hermes (ELE:PA), the world leader in trade credit insurance. The Moody's group owns a minority stake in Euler Hermes Rating.

Further information on this rating can be found at http://www.eulerhermes-rating.com.

© 2017 Euler Hermes Rating GmbH ("EHRG") and/or its licensors and affiliates. All rights reserved.

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