Ratings

Iberdrola is committed with solid Investment Grade ratings levels which reflect the Group´s financial solidity, being one of its strategic pillars (ESG+F).

AGENCY LONG TERM SHORT TERM PERSPECTIVE RATING ACTION
S&P(1) Nota BBB+ A-2 Stable 22 April 2016
MOODY's(2) Nota Baa1 P-2 Stable 14 March 2018
FITCH(3) Nota BBB+ F-2 Stable 25 March 2014

Warning: the foregoing ratings may be revised, suspended or withdrawn at any time by the rating agency.

Ratings agencies

  • AGENCY MOODY´S INVESTORS SERVICE LIMITED (www.moodys.com External link, opens in new window.)
    LONG-TERM RATINGS Baa1 (June 2012)
    LONG-TERM RATINGS OUTLOOK Stable (March 2018)
    LONG-TERM RATINGS MEANING Subject to moderate credit risk. They are considered medium grade and as such may possess certain speculative characteristics. The modifier 1 indicates that the obligation ranks in the higher end of its generic rating category. The outlook is an opinion regarding the possible direction of the rating in the medium term.
    SHORT-TERM RATINGS P2 (December 2007)
    LAST RATING REVIEW 14 March 2018
    SHORT-TERM RATINGS MEANING Superior ability to repay short-term debt obligations.

    Warning: the foregoing ratings may be revised, suspended or withdrawn at any time by the rating agency.

  • AGENCY STANDARD & POOR'S RATINGS SERVICES (www.standardandpoors.com External link, opens in new window.)
    LONG-TERM RATINGS BBB+ (April 2016)
    LONG-TERM RATINGS OUTLOOK Stable (April 2016)
    LONG-TERM RATINGS MEANING It presents adequate protection parameters. However, it is more likely that adverse economic conditions or short-term changes will probably lead to the weakening of the ability of the issuer to meet its financial commitment on the obligation. The "+" or "-" symbols show relative standing within the major rating categories. A stable outlook means that the rating is not likely to change over the intermediate to longer term.
    SHORT-TERM RATINGS A-2 (November 2007)
    LAST RATING REVIEW 22 April 2016
    SHORT-TERM RATINGS MEANING STRONG capacity to meet financial commitments. It is the second highest category given by Standard & Poor's.

    Warning: the foregoing ratings may be revised, suspended or withdrawn at any time by the rating agency.

  • AGENCY FITCH RATINGS INC. (www.fitchratings.com External link, opens in new window.)
    LONG-TERM RATINGS BBB+ (August 2012)
    LONG-TERM RATINGS OUTLOOK Stable (March 2014)
    LAST RATING REVIEW 8 July 2016
    LONG-TERM RATINGS MEANING Good credit quality. 'BBB' ratings indicate that expectations of default risk are currently low. The capacity for payment of financial commitments is considered adequate but adverse business or economic conditions are more likely to impair this capacity. The &quot+&quot or &quot-&quot symbols denote relative status within major rating categories. The outlook indicates the direction a rating is possible to move over a one to two-year period.
    SHORT-TERM RATINGS F-2 (April 2009)
    SHORT-TERM RATINGS MEANING Good credit quality. Indicates good intrinsic capacity for timely payment of financial commitments.

    Warning: the foregoing ratings may be revised, suspended or withdrawn at any time by the rating agency.

(1) Nota Long-term: It presents adequate protection parameters. However, it is more likely that adverse economic conditions or short-term changes will probably lead to the weakening of the ability of the issuer to meet its financial commitment on the obligation. The "+" or "-" symbols show relative standing within the major rating categories. A stable outlook means that the rating is not likely to change over the intermediate to longer term. 
Short-term: Strong capacity to meet financial commitments. It is the second highest category of Standard & Poor's.

(2) Nota Long-term: Subject to moderate credit risk. They are considered medium grade and as such may possess certain speculative characteristics. The modifier 1 indicates that the obligation ranks in the higher end of its generic rating category. The outlook is an opinion regarding the possible direction of the rating in the medium term.
Short-term: Superior ability to repay short-term debt obligations.

(3) Nota  Long-term: Good credit quality. 'BBB' ratings indicate that expectations of default risk are currently low. The capacity for payment of financial commitments is considered adequate but adverse business or economic conditions are more likely to impair this capacity. The "+" or "-" symbols denote relative status within major rating categories. The outlook indicates the direction a rating is possible to move over a one to two-year period.
Short-term: Good credit quality. Indicates good intrinsic capacity for timely payment of financial commitments.