Ratings


Rating tables by Agency

This page details the ratings awarded to the Company by the following credit rating agencies: Fitch Ratings España, S.A., Moody’s Investors Service España, S.A. and Standard & Poor’s.

Agency Rating Name Concept Ratings Awarded The Latest Update
Fitch Long Term
Short Term
Outlook
A- (Senior Preferred A)
F2
Stable
5 Dec 2022
Moody’s Long Term
Short Term
Outlook
A2 (Senior Unsecured A2)
P1
Stable
21 Sept 2023
Standard & Poor’s Long Term
Short Term
Outlook
A (Senior Unsecured A)
A-1
Stable
24 May 2022

The credit rating can be revised, cancelled or withdrawn at any time by the ratings agency.

These credit ratings do not constitute a recommendation to buy, sell or subscribe to the bonds issued by the Company.

The aforementioned credit ratings are only an estimation and should not prevent potential investors in bonds issued by the company from undertaking their own analysis of the Company or the bonds it issues.

The long term debt rating categories used by the aforementioned agencies are as follows:

Category  Moody’s  Standard & Poors Fitch
Investment Category Aaa
Aa
A
Baa
AAA
AA
A
BBB
AAA
AA
A
BBB
Especulative Category Ba
B
aa
Ca
C
BB
B
CCC
CC
C
BB
B
CCC
CC
C

The short term debt rating categories used by these agencies are as follows:

Moody’s Standard & Poors Fitch
Prime-1
Prime-2
Prime-3
A-1
A-2

A-3
B
C
F1
F2
F3
B
C

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