URENCO receives A+ credit rating from Fitch
6 October 2009
URENCO was today awarded an A+ long-term, F1 short-term credit rating from Fitch Ratings, assigned on a stand-alone basis. This rating reflects URENCO’s robust financial position, market leading enrichment technology and strong market share (currently at 25%).
Alongside URENCO’s leading position in the global uranium enrichment market Fitch also noted URENCO’s excellent revenue visibility and strong forward order book of €18.5 billion (extending beyond 2025), with capacity over the next five years fully contracted at fixed escalated prices.
URENCO’s Chief Financial Officer Bart Le Blanc said: “We are delighted with our Fitch rating. With this additional credit rating URENCO is well placed to continue with its funding operations in order to finance its capital expenditure projects across URENCO’s sites in Europe and in the US.”
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Contact:
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Investor relations:
Name: Navreet Doad
Title: Investor Relations
Tel: +44 (0) 1628 402279
Email: navreet.doad@urenco.com
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Media relations:
Name: Jayne Hallett
Title: Head of Group Communications
Tel: +44 (0) 1628 402297
Email: jayne.hallett@urenco.com
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The URENCO Group
URENCO is an independent international energy and technology group with its head office based in Marlow, UK. It operates plants in Germany, the Netherlands and the UK, and in the near future at a fourth site in New Mexico, US. It operates in a pivotal area of the nuclear fuel supply chain, which enables the sustainable generation of electricity for consumers around the world.
Utilising its own centrifuge technology, URENCO provides safe, cost-effective and reliable uranium enrichment services for civil power generation within a framework of high environmental, social and corporate responsibility standards. Currently URENCO fulfils around 25% of the global enrichment market, and the goal is to continue to build market share, with the aim of establishing URENCO as the leading global supplier of enrichment and enrichment technology. www.urenco.com
*URENCO has corporate credit ratings of “A1/Stable/P1” by Moody’s Investors’ Service Limited; “A-/Stable/A-2” from Standard & Poor’s and "A+/Stable/F1" from Fitch Ratings.
Subscribers can view the full rating analysis at:
www.fitchratings.com/