S&P eyes Urenco positively

S&P said it placed Urenco’s BBB+ issuer rating on CreditWatch with positive implications.

“Urenco closed 2022 with a backlog of €10.8 billion (an increase of 24% compared with the previous year) after close to a decade of ongoing declines. This is a mirror image to the projection we held two years ago (assuming a sharp decrease in the backlog to €5 billion-€6 billion by 2026). According to the company's updated market forecast, the nuclear-installed capacity is likely to increase by 10%-20% by 2040 (compared to a previous assumption of a more than 30% decline),” the agency said in a press release.

S&P said it may upgrade Urenco’s rating a notch in the next three months once it has greater clarity on the company’s financial policy.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.