Download net4gas – bbb investment grade credit rating affirmed

PRESS RELEASE
NET4GAS – BBB INVESTMENT GRADE CREDIT RATING AFFIRMED
Prague, July 4, 2017: At the end of June, S&P Global Ratings and Fitch Ratings affirmed the long-term rating
of NET4GAS at the BBB investment grade with a stable outlook. Both rating reports reflect the fact that
NET4GAS has financial resources allowing it to meet all of its current and future commitments in full and in a
timely manner, and underscore the company's readiness to execute planned long-term investments.
Apart from its financial strength, which stems from stable and predictable cash flow, a high degree of flexibility,
and the long-term strategic focus of the company's owners, both rating agencies have also taken into account
the fact that the maturity of bank financing provided to NET4GAS has been extended. "We have taken
advantage of the favorable situation on the market to refinance a portion of our debt earlier. In May of this year,
lines of credit due in 2018 and 2019 were completely replaced with new credit arrangements with a maturity
of five years," reported Václav Hrach, Chief Financial Officer of NET4GAS.
The rating agencies were provided with the company's investment plans prepared in the wake of the Europewide capacity auction held in March, in which NET4GAS offered and successfully sold new cross-border
capacity connecting the GASPOOL market area in Germany with the Czech Republic, as well as the market
areas of the Czech Republic and Slovakia. "In the coming years, we are prepared to carry out this project, and
to invest into the Czech gas infrastructure," said Hrach, commenting on the investment readiness of NET4GAS,
as affirmed by reports issued by the two leading international agencies.
Contact:
Zuzana Kučerová
Tel.: +420 220 225 446 | Mobile: +420 739 537 273 | E-mail: [email protected]
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NET4GAS, s.r.o. is the holder of an exclusive license for natural gas transmission as the Transmission System Operator
(TSO) in the Czech Republic. NET4GAS provides sufficient transmission capacity to satisfy both domestic and foreign
demand, and guarantees the safety and reliability of transmission services. NET4GAS transports approximately 45 billion
cubic meters of natural gas annually (domestic consumption accounts for about 15%). NET4GAS operates more than
3,800 km of pipelines, three border transfer stations, four compressor stations, and nearly 100 transfer stations that
interface with the domestic gas distribution system. NET4GAS is a member of the Czech Gas Association, the international
organizations ENTSOG, GIE and EASEE-gas, and the working groups IGU and Marcogaz. NET4GAS has more than 500
employees.
NET4GAS, s.r.o.
Na Hřebenech II 1718/8
140 21 Prague 4 – Nusle
Tel.: +420 220 225 446
Mobile: +420 739 537 273
Email: [email protected]
www.net4gas.cz