Credit ratings
Fitch Rating issued extended credit report in relation to previous rating action
Published on 15 January 2024
On 15 January 2024 Fitch Rating issued extended credit report in relation to previous rating action on N4G dated 5 January 2024.
Fitch Upgrades Net4Gas's IDR to 'BB', Unsecured Notes to 'BB+'; off RWP; on Positive Outlook
Published on 8 January 2024
On 5 January 2024 Fitch Ratings upgraded Net4Gas's IDR to 'BB', Unsecured Notes to 'BB+'; off RWP; on Positive Outlook.
Rating agency Fitch Fitch Ratings changed outlook from to “rating watch positive"
Published on 5 October 2023
On 4 October 2023 Fitch Ratings changed outlook from "evolving " to “rating watch positive."
Rating agency Fitch downgraded NET4GAS, the outlook is "evolving"
Published on 29 May 2023
On 29 May 2023, Fitch Ratings announced a change in the long-term issuer default rating and senior unsecured rating of NET4GAS, s.r.o. (the “NET4GAS”) to "BB-". The outlook on the long-term issuer default rating is "evolving".
NET4GAS notes that, despite this announcement by Fitch Ratings, there has not been any material development in NET4GAS’s position since its public announcement of 6 April 2023, which is still current.
Fitch commentary: rating unaffected
Published on 26 January 2023
On 24 January 2023 Fitch published NON-RATING ACTION COMMENTARY – rating unaffected.
Moody’s withdrawn NET4GAS rating
Published on 21 December 2022
Moody’s withdrawn NET4GAS rating.
Withdrawal from the credit rating service provided by Moody’s
Published on 12 December 2022
The company has made a decision to withdraw from the credit rating service provided by Moody’s as of 6 December 2022. The latest credit rating of our company by Moody’s on the level Ba2, outlook negative, was published on 27 June 2022. Please note that the credit rating service provided by Fitch remains in place.
Fitch Rating issued extended credit report published as of 19.10.2022
Published on 5 December 2022
Fitch Rating issued extended credit report published as of 19.10.2022.
Fitch Ratings affirmed NET4GAS’s credit rating to BB+, the outlook is "negative"
Published on 19 October 2022
On 19 October 2022 Fitch Ratings affirmed NET4GAS’s credit rating to BB+, while the outlook was changed from "rating watch negative" to “negative outlook”.
Moody's confirmed NET4GAS’s credit rating from Ba2, the outlook is “negative"
Published on 27 June 2022
On 27 June 2022 Moody's Investors Service confirmed NET4GAS’s credit rating from Ba2, while the outlook was changed from “review for downgrade” to “negative" outlook.
Rating agency Fitch downgraded NET4GAS
Published on 11 May 2022
On 10 May 2022 Fitch Ratings downgraded NET4GAS’s credit rating from BBB "rating watch negative" to BB + "rating watch negative." The current credit rating adjustment is derived in the context of potential risks related to the ongoing conflict between Russia and Ukraine, including the risk of escalation of possible sanctions / countermeasures in the energy sector.
Despite the ongoing conflict between the two countries, NET4GAS has so far not seen any negative impact on its gas transmission activities.
In a period of geopolitical uncertainty, NET4GAS continues to build financial reserves. In addition, the company has the support of its shareholders, as demonstrated by the public statement recently made by NET4GAS Group and its shareholders on the current market situation (published in the investor section of the company's website). On the other hand, it is obvious that we are in an unprecedented situation and some developments may be out of the control of NET4GAS and its shareholders.
Rating agency Moody’s downgraded NET4GAS
Published on 24 March 2022
On 23 March 2022, the rating agency Moody’s downgraded NET4GAS’s credit rating from Baa2, “review for downgrade”, to Ba2, “review for downgrade”, in the context of “Russia’s invasion of Ukraine” and the related risks of e.g. a further tightening of sanctions against Russia – including potential sanctions / countermeasures in the energy sector. Moody's rating action comes despite the fact that since the beginning of the conflict, the company has not seen any negative impact on its gas transmission activities.
In this period of geopolitical uncertainty, NET4GAS’s aim is to build a financial reserve. In addition, the company has the support of its shareholders, as demonstrated by the public statement recently made by NET4GAS Group and its shareholders on the current market situation (published in the investor section of the company's website). On the other hand, it is obvious that we are in an unprecedented situation and some developments may be out of the control of NET4GAS and its shareholders.
Moody's reviews NET4GAS' Baa2 ratings for downgrade
Published on 3 March 2022
Fitch Places NET4GAS on Rating Watch Negative
Published on 4 March 2022
Moody's Investors Service: "Baa2", stable outlook
In December 2021, the Moody's Investors Service rating agency issued Credit Opinion of NET4GAS, s.r.o. Long-term rating for NET4GAS is assigned at "Baa2" level with stable outlook.
Fitch Ratings: "BBB", stable outlook
In December 2021, the Fitch Ratings rating agency affirmed long-term rating for NET4GAS, s.r.o. at the "BBB" level with stable outlook.