Ratings

BEH is regularly rated by leading international rating agencies  Moody`s and Fitch Ratings.

List of Moody`s publications regarding BEH's credit rating:

• Credit Opinion (10.02.2023) – Bulgarian Energy Holding EAD
• Press Release (06.02.2023) – Moody's affirms Bulgarian Energy Holding’s Ba1 ratings; changes outlook to positive
• Credit Opinion Update (02.08.2022) – Bulgarian Energy Holding EAD
• Press Release (12.07.2021) – Moody's assigns Ba2 rating to Bulgarian Energy Holding's senior unsecured bonds
• Credit Opinion Update (21.12.2020) – Bulgarian Energy Holding EAD
• Press Release (09.12.2020) – Bulgarian Energy Holding EAD
• Credit Opinion Update (04.11.2019) – Bulgarian Energy Holding EAD
• Announcement of Periodic Review (02.04.2019) – Bulgarian Energy Holding EAD
• Issuer Comment (21.12.2018) – Bulgarian Energy Holding EAD
• Credit Opinion Update (18.06.2018) – Bulgarian Energy Holding EAD
• Issuer Comment (14.12.2017) - Bulgarian Energy Holding EAD
• Credit Opinion Update (24.08.2017) – Bulgarian Energy Holding EAD
• Issuer Comment (02.12.2016) – Bulgarian Energy Holding EAD
• Credit Opinion Update (02.08.2016) – Bulgarian Energy Holding EAD
• Press Release (01.08.2016) – Moody's assigns definitive Ba1 CFR to Bulgarian Energy Holding EAD; Stable Outlook
• Press Release (15.07.2016) – Moody's assigns (P)Ba2 senior unsecured rating to Bulgarian Energy Holding EAD's proposed bond issuance; stable outlook
• Credit opinion (07.06.2016) – Bulgarian Energy Holding EAD; First time rating
• Press Release (27.05.2016) – Moody`s assigns (P)'Ba1' CFR to Bulgarian Energy Holding EAD; Stable Outlook

List of Fitch Ratings' publications regarding BEH's credit rating:

• Rating report (28.03.2024) – Bulgarian Energy Holding EAD
• Press Release (20.03.2024) – Fitch upgraded the Credit outlook of Bulgarian Energy Holding EAD from stable to positive
• Rating report (06.04.2023) – Bulgarian Energy Holding EAD
• Press Release (24.03.2023) – Fitch Upgrades Bulgarian Energy Holding to 'BB+'; Outlook Stable
• Rating report (12.07.2021) – Fitch assigns BB rating to Bulgarian Energy Holding's Eurobond
• Press Release (11.05.2021) – Fitch Upgrades BEH's Senior Unsecured Rating to 'BB'
• Press Release (26.02.2021) - Fitch Revises BEH's Outlook to Positive.
• Press Release (22.12.2020) – Bulgarian Energy Holding EAD
• Press Release (17.10.2019) - Bulgarian Energy Holding EAD
• Rating Report (27.02.2018) - Bulgarian Energy Holding EAD
• Press Release (15.02.2018) - Fitch Upgrades BEH to 'BB'; Outlook Stable
• Press Release (13.12.2017) - Fitch Places Bulgarian Energy Holding on Rating Watch Positive
• Rating Report (06.10.2016) - Bulgarian Energy Holding EAD
• Press Release (30.09.2016) - State Loan for Belene Payment Mildly Positive for BEH's Rating
• Rating Report (22.08.2016) - Bulgarian Energy Holding EAD
• Press Release (12.08.2016) - Fitch Revises Bulgarian Energy Holding’s Outlook to Stable; Affirms at 'BB-'
• Rating Report (18.07.2016) - Bulgarian Energy Holding EAD
• Press Release (06.07.2016) - Fitch Affirms BEH at 'BB¬-'; Negative Outlook; Rates Upcoming Bond 'BB¬-(EXP)'
• Press Release (16.09.2015) - Fitch downgrades Bulgarian Energy Holding to 'BB-'; Negative Outlook
• Press Release (18.03.2015) - Fitch Downgrades Bulgarian Energy Holding to 'BB'; Places on RWN
• Press Release (18.03.2014) - Fitch Affirms Bulgarian Energy Holding at 'BB+'; Stable Outlook
• Press Release (25.10.2013) - Fitch Rates Bulgarian Energy Holding's Upcoming Eurobond 'BB+(EXP)'
• Full Rating Report (10.06.2013) - Bulgarian Energy Holding EAD
• Press Release (01.03.2013) - Fitch Rates Bulgarian Energy Holding 'BB+'; Stable Outlook

List of Standard & Poor`s publications regarding NEK`s credit rating:

• Credit Opinion Update (04.09.2024) - Natsionalna Elektricheska Kompania EAD
• Credit Opinion Update (17.08.2023) - Natsionalna Elektricheska Kompania EAD
• Credit Opinion Update (12.12.2022) – Natsionalna Electricheska Kompania EAD
• Credit Opinion Update (20.12.2021) – Natsionalna Electricheska Kompania EAD
• Credit Opinion Update (13.08.2021) - Natsionalna Elektricheska Kompania EAD
• Credit Opinion Update (22.01.2021) - Natsionalna Elektricheska Kompania EAD
• Credit Opinion Update (31.08.2019) - Natsionalna Elektricheska Kompania EAD