Euler Hermes Rating bewertet die wpd AG mit A

Hamburg (ots) - Die Euler Hermes Rating GmbH bewertet die Bonität
und Zukunftsfähigkeit der wpd AG mit A. Die seit 2003 bestehende
Ratingnotation wird damit erneut bestätigt. Für die kommenden zwölf
Monate wird eine stabile Entwicklung des Ratings erwartet.

Die wpd AG verfügt über ein moderates Geschäftsrisiko. Positiv
sind nach Erachten der Ratingagentur ein hohes Maß an Stabilität und
Nachhaltigkeit beim Anlagenbetrieb. Bei der Projektierung bestehen
hingegen Projektrisiken, Abhängigkeiten von den Rahmenbedingungen und
der Standortverfügbarkeit sowie ein hoher Vorfinanzierungsbedarf. Die
Einführung von Ausschreibungen führt zu einem steigenden Wettbewerbs-
und Margendruck. Aufgrund der Marktposition, der internationalen
Diversifizierung, der personellen und finanziellen Ressourcen sowie
der guten Vernetzung sieht die Ratingagentur wpd derzeit aber sehr
gut positioniert. In Zusammenhang mit der erfolgversprechenden
strategischen Ausrichtung und den finanziellen Puffern geht Euler
Hermes Rating davon aus, dass wpd die erhöhten Marktrisiken tragen
kann. Das Finanzrisiko der wpd AG schätzt die Agentur als gering ein.
Positiv werden die sehr gute Ertragskraft, die langfristig stabilen
Einspeisevergütungen aus dem Betrieb, sehr hohe Erträge und Cashflows
durch Projektverkäufe sowie hohe Ertrags- und Liquiditätsreserven im
Eigenbestand beurteilt. Darüber hinaus bieten die zur Verfügung
stehenden liquiden Mittel und Kreditlinien eine sehr gute finanzielle
Flexibilität.

Die Hauptgeschäftstätigkeit der wpd AG ist die Projektierung und
der Betrieb von Windenergieanlagen. Die wpd-Gruppe beschäftigte 2018
654 Mitarbeiter.

Die Euler Hermes Rating GmbH (Euler Hermes Rating) wurde 2001 als
unabhängige europäische Ratingagentur der Euler Hermes und Allianz
Gruppe gegründet und fokussiert sich auf das Rating von Emittenten
und Emissionen. Euler Hermes Rating ist gemäß der Verordnung (EG) Nr.
1060/2009 des Europäischen Parlaments und des Rates als Credit Rating
Agency (CRA) registriert und wird als External Credit Assessment
Institution (ECAI) bei der European Banking Authority (EBA) geführt.
Euler Hermes Rating ist eine Tochtergesellschaft von Euler Hermes,
dem weltweiten Marktführer im Kreditversicherungsgeschäft. Die
Moody's Gruppe hält eine Minderheitsbeteiligung an Euler Hermes
Rating.

Weitere Informationen zu Euler Hermes Rating GmbH unter
www.eulerhermes-rating.com

© 2019 Euler Hermes Rating GmbH ("EHRG") and/or its licensors and
affiliates. All rights reserved.

CREDIT RATINGS ISSUED BY EHRG ARE EHRG'S CURRENT OPINIONS OF THE
RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT
OR DEBT-LIKE SECURITIES, AND EHRG'S PUBLICATIONS MAY INCLUDE EHRG'S
CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES,
CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES. EHRG DEFINES
CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL,
FINANCIAL OBLIGATIONS AS THEY COME DUE AND, IN THE CASE OF
ISSUANCE-LEVEL CREDIT RATINGS, ANY ESTIMATED FINANCIAL LOSS IN THE
EVENT OF DEFAULT. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK,
INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR
PRICE VOLATILI-TY. CREDIT RATINGS AND EHRG'S OPINIONS INCLUDED IN
EHRG'S PUBLICATIONS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT.
CREDIT RATINGS AND EHRG'S PUBLICATIONS ARE NEITHER A PROSPECTUS NOR A
SUBSTITUTE FOR INFORMATION ASSEMBLED AND PRESENTED BY COMPANIES OR
ISSUERS FOR INVESTORS REGARDING THE PURCHASE OF A SECURITY OR FOR
AS-SESSING THE CREDITWORTHINESS OF A RATED ENTITY. CREDIT RATINGS AND
EHRG'S PUBLICATIONS DO NOT CONSTITUTE OR PROVIDE INVESTMENT OR
FINANCIAL ADVICE, AND DO NOT PROVIDE RECOMMENDATIONS TO PURCHASE,
SELL, OR HOLD PARTICULAR SECURITIES. NEITHER CREDIT RATINGS NOR
EHRG'S PUBLICATIONS COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR
ANY PARTICULAR INVESTOR. EHRG ISSUES ITS CREDIT RATINGS AND PUBLISHES
ITS PUBLICATIONS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH
INVESTOR WILL, WITH DUE CARE, CONDUCT ITS OWN INDEPENDENT ANALYSES,
CREDIT ASSESSMENTS AND OTHER VERIFICATIONS AND EVALUATIONS OF EACH
SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE.

EHRG'S CREDIT RATINGS AND EHRG'S PUBLICATIONS ARE NOT INTENDED FOR
USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE
FOR RETAIL INVESTORS TO USE EHRG'S CREDIT RATINGS OR EHRG'S
PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU
SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER.

ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING
BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY
BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED,
TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR
SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM
OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT EHRG'S
PRIOR WRITTEN CONSENT.

All information contained herein is obtained by EHRG from sources
believed by it to be accurate and reliable. Because of the
possibility of human or mechanical error as well as other factors,
however, all information contained herein is provided "AS IS" without
warranty of any kind. EHRG adopts all necessary measures so that the
information it uses in assigning a credit rating is of sufficient
quality and from sources EHRG considers to be reliable including,
when appropriate, independent third-party sources. However, EHRG is
not an auditor and cannot in every instance independently verify or
validate information received in the rating process or in preparing
the EHRG publications.

Please note that summaries of contracts, laws and other documents
contained in any EHRG publication, rating report or other materials
cannot replace careful study of the relevant complete texts.

EHRG and its directors, officers, employees, agents,
representatives, licensors and suppliers disclaim liability to any
person or entity for any indirect, special, consequential, or
incidental losses or damages whatsoever arising from or in connection
with the information contained herein or the use of or inability to
use any such information, even if EHRG or any of its directors,
officers, employees, agents, representatives, licensors or suppliers
is advised in advance of the possibility of such losses or damages,
including but not limited to: (a) any loss of present or prospective
profits or (b) any loss or damage arising where the relevant
financial instrument is not the subject of a particular credit rating
assigned by EHRG. The limitations do not apply to the extent that
fraud, intent or any other type of liability cannot be excluded
and/or limited under applicable law.

EHRG and its directors, officers, employees, agents,
representatives, licensors and suppliers disclaim liability for any
direct or compensatory losses or damages caused to any person or
entity, on the part of, or any contingency within or beyond the
control of, EHRG or any of its directors, officers, employees,
agents, representatives, licensors or suppliers, arising from or in
connection with the information contained herein or the use of or
inability to use any such information. The limitations do not apply
to the extent that fraud, intent or any other type of liability
cannot be excluded and/or limited under applicable law.

NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS,
COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE
OF ANY SUCH RATING OR OTHER OPINION OR INFORMATION IS GIVEN OR MADE
BY EHRG IN ANY FORM OR MANNER WHATSOEVER.

The dissemination and use of an EHRG rating report may be
prohibited by law in certain jurisdictions. Any persons who come into
the possession of such information should inquire about and comply
with any prohibitions that may be in place. EHRG assumes no liability
of any kind with respect to such dissemination and use of any rating
in any jurisdiction whatsoever.

Euler Hermes Rating GmbH

Pressekontakt:
Sven Sahlberg - Sven.Sahlberg@eulerhermes-rating.com
Friedensallee 254
22763 Hamburg
Tel.: 040 8834-640
Fax: 040 8834-6413
www.eulerhermes-rating.com

Original-Content von: Euler Hermes Rating GmbH, übermittelt durch news aktuell