• Rating agency acknowledges RWE’s strategic transformation
• Outstanding fiscal 2020 and strong financial position also evaluated positively

Markus Krebber, CFO of RWE AG: “The upgrade of our rating by Moody’s is further proof of the success of our strategic transformation and responsible financial policy. RWE is focussing on renewable energies, exiting from coal and nuclear energy, and will be carbon neutral by 2040. Today, we are already one of the leading producers of green electricity thanks to our broad renewables portfolio. We plan to expand this further – with billions of euros investments we want to continue to grow profitably worldwide. We have the financial means and the expertise to do that.”

Rating agency Moody’s upgraded RWE’s long-term rating from Baa3 to Baa2 with a stable outlook. For the subordinated hybrid bonds, the rating increased from Ba2 to Ba1. At the same time, Moody’s upgraded the short-term rating from P-3 to P-2.

The analysts stated the primary reasons for upgrading their ratings as being RWE’s strong operating performance in 2020 and the progress made on implementing the strategy with its focus on renewable energies. They expect that the growing revenues from the renewables business will compensate for the exit from coal and nuclear energy in the long run. Furthermore, Moody’s emphasised RWE’s excellent financial base.

Rating agency Fitch had already acknowledged RWE’s performance in March by upgrading the company’s long-term rating to BBB+ with a stable outlook.