International credit rating agency Moody's has affirmed the credit rating of Latvenergo AS - Baa2, stable. The rating has been unchangeably stable for several years, confirming consistency within operations and financial soundness of the company.

By affirming the credit rating of Latvenergo AS, Moody’s has taken in consideration the recent restructuring in capacity payments and the respective capital release. As strong points of Latvenergo Group Moody’s emphasises its operations not only in Latvia, but also on the Baltic scale; its cost competitive and environmentally clean hydro generation asset base; contribution from regulated distribution and transmission segment operations as well as solid financial profile that provides a cushion against adverse market changes.

Latvenergo AS is the only company in Latvia outside the financial sector which has been rated by Moody’s Investors Service with the investment grade rating. Credit ratings from internationally recognized credit rating agencies are used by local and international financial institutions and other stakeholders to assess the risks associated with the company’s financial stability, reliability and future prospects. Moody’s has assigned the credit rating to Latvenergo AS since 2004, and since February 2015 the rating is Baa2 with stable outlook.

Additional information:
Jānis Irbe
Group Treasurer
Phone: +371 67 728 239
E-mail: investor.relations@latvenergo.lv

www.latvenergo.lv

About Latvenergo

Latvenergo Group is a pan-Baltic energy company, engaging in electricity and thermal energy generation and supply, electricity distribution services and lease of transmission system assets. Latvenergo Group is the leader in the Baltic electricity supply. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several times. International credit rating agency Moody’s has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable.

Latvenergo Group includes the parent company Latvenergo AS (Generation and trade of electricity and thermal energy, trade of natural gas) and its subsidiaries Latvijas elektriskie tīkli AS (lease of transmission system assets), Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (electricity and gas trade in Estonia), Elektrum Lietuva UAB (electricity trade in Lithuania), Enerģijas publiskais tirgotājs AS (administration of electricity mandatory procurement process) and Liepājas enerģija SIA (electricity and thermal energy generation and supply).