URENCO notes Moody’s announcement
25 January 2010
URENCO notes the decision by Moody’s Investors Service to downgrade its senior unsecured issuer rating from A1 to A2. The downgrade is part of a review carried out by Moody’s of URENCO’s credit rating as a government related issuer. Moody’s confirms that the underlying credit rating remains unchanged from the October 2009 update commenting that “We continue to draw significant comfort from the predictability in revenue and cash flow generation afforded by URENCO’s strengthening global position in the concentrated sector, high profitability of the enrichment operations and substantial contract portfolio”.
URENCO’s financial position continues to remain robust, with a strong balance sheet and a forward order book of €19.5 billion and which extends beyond 2025, providing the Group with excellent revenue visibility for the foreseeable future.
URENCO continues to maintain an open and constructive dialogue with all of the ratings agencies, as well as with the company’s investor base. URENCO enjoys an A+ rating from Fitch and an A- rating from Standard & Poor’s.
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