The initial public offering (IPO) of Ignitis Group, which is the largest among the companies of the Baltic states, had a positive effect on the credit rating outlook of the Group. The international credit rating agency S&P Global Ratings improved the credit rating outlook of the Group from ‘negative’ to ‘stable’ with BBB+ credit rating score.
The outlook of the credit rating of the Group improved after S&P Global Ratings performed an event driven review of indicators after the IPO of Ignitis Group was concluded in October 2020.
“The IPO of Ignitis Group concluded in October, this year, had a positive effect on the capital structure of the Company, which led to the credit rating outlook change to the positive. It is an additional confirmation of resilient growth strategy of the Ignitis Group and a piece of good news to the investors indicating the reliability of the Group and its determination to create long-term value to the shareholders”, says Darius Maikštėnas, Chairman of the Board and CEO of Ignitis Group.
The IPO of Ignitis Group, which is the largest of its kind among the companies of the Baltic States, was concluded on 2 October and attracted EUR 450m. The Company went public in the securities market and started trading on the Nasdaq Vilnius and London stock exchange on 7 October.