Euler Hermes Rating veröffentlicht Methodik für Ratings von Projekten im Bereich der Erneuerbaren Energien
Hamburg (ots)
Die Projektrating-Methodik (EE) ist eine Spezifizierung der Methodik Projektrating (allgemein) und ersetzt die Projektrating-Methodik aus dem September 2014. Die überarbeitete Methodik verfolgt das Ziel, eine verbesserte Transparenz der Vorgehensweise von Euler Hermes Rating bei der Erstellung von Projektratings im Bereich der Erneuerbaren Energien zu schaffen. Mit der überarbeiteten Methodik sind keine Veränderungen der Ratingkriterien, Gewichtungen oder Bewertungsmaßstäbe verbunden, sodass die Anwendung dieser Methodik nicht zu einer Veränderung von Ratingnotationen, die bisher auf der Projektrating-Methodik aus dem September 2014 aufbauen, führen wird.
Wesentliche Elemente:
Die Analysebereiche werden nach Projekt- und Finanzrisiko unterschieden.
Die Gewichtung der beiden Risikoprofile erfolgt über die EHR-Ratingmatrix, die als Kernelement der Projektrating-Methodik (EE) veröffentlicht wird.
Über Modifizierungen werden weitere ratingrelevante Einflüsse aus operationellen Risiken sowie dem öffentlichen Sektor berücksichtigt.
Als Bestandteil eines fortlaufenden und offenen Dialogs mit Emittenten, Investoren sowie weiteren interessierten Parteien bat Euler Hermes Rating am 18. Januar 2018, die Methodik unter Berücksichtigung der Anforderungen institutioneller Investoren zu kommentieren. Der Ratingagentur wurden im Rahmen des Request for Comments keine Kommentare kommuniziert, die gegen eine Veröffentlichung und Anwendung der Methodik sprechen.
Die vollständige Projektrating-Methodik ist unter www.ehrg.de/ueber-uns/unsere-methoden verfügbar.
Über Euler Hermes Rating
Die Euler Hermes Rating GmbH (Euler Hermes Rating) wurde 2001 als unabhängige europäische Ratingagentur der Euler Hermes und Allianz Gruppe gegründet und fokussiert sich auf das Rating von Emittenten und Emissionen. Euler Hermes Rating ist gemäß der Verordnung (EG) Nr. 1060/2009 des Europäischen Parlaments und des Rates als Credit Rating Agency (CRA) registriert und wird als External Credit Assessment Institution (ECAI) bei der European Banking Authority (EBA) geführt. Euler Hermes Rating ist eine Tochtergesellschaft von Euler Hermes (ELE:PA), dem weltweiten Marktführer im Kreditversicherungsgeschäft. Die Moody's Gruppe hält eine Minderheitsbeteiligung an Euler Hermes Rating.
© 2018 Euler Hermes Rating GmbH ("EHRG") and/or its licensors and affiliates. All rights reserved.
CREDIT RATINGS ISSUED BY EHRG ARE EHRG'S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES, AND EHRG'S PUBLICATIONS MAY INCLUDE EHRG'S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMIT-MENTS, OR DEBT OR DEBT-LIKE SECURITIES. EHRG DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL, FINANCIAL OBLIGATIONS AS THEY COME DUE AND, IN THE CASE OF ISSUANCE-LEVEL CREDIT RATINGS, ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS AND EHRG'S OPINIONS INCLUDED IN EHRG'S PUBLICATIONS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT. CREDIT RATINGS AND EHRG'S PUBLICATIONS ARE NEITHER A PROSPECTUS NOR A SUBSTITUTE FOR INFORMATION ASSEMBLED AND PRESENTED BY COMPANIES OR ISSUERS FOR INVESTORS REGARDING THE PURCHASE OF A SECURITY OR FOR ASSESSING THE CREDITWORTHINESS OF A RATED ENTITY. CREDIT RATINGS AND EHRG'S PUBLICATIONS DO NOT CONSTITUTE OR PROVIDE INVESTMENT OR FINANCIAL ADVICE, AND DO NOT PROVIDE RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES. NEITHER CREDIT RATINGS NOR EHRG'S PUBLICATIONS COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR. EHRG ISSUES ITS CREDIT RATINGS AND PUBLISHES ITS PUBLICATIONS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL, WITH DUE CARE, CONDUCT ITS OWN INDEPENDENT ANALYSES, CREDIT ASSESSMENTS AND OTHER VERIFICATIONS AND EVALUATIONS OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE. EHRG'S CREDIT RATINGS AND EHRG'S PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE EHRG'S CREDIT RATINGS OR EHRG'S PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSE-QUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT EHRG'S PRIOR WRITTEN CONSENT.
All information contained herein is obtained by EHRG from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, all information contained herein is provided "AS IS" without warranty of any kind. EHRG adopts all necessary measures so that the information it uses in assigning a credit rating is of sufficient quality and from sources EHRG considers to be reliable including, when ap-propriate, independent third-party sources. However, EHRG is not an auditor and cannot in every instance inde-pendently verify or validate information received in the rating process or in preparing the EHRG publications.
Please note that summaries of contracts, laws and other documents contained in any EHRG publication, rating report or other materials cannot replace careful study of the relevant complete texts. EHRG and its directors, officers, employees, agents, representatives, licensors and suppliers disclaim liability to any person or entity for any indirect, special, consequential, or incidental losses or damages whatsoever arising from or in connection with the information contained herein or the use of or inability to use any such information, even if EHRG or any of its directors, officers, employees, agents, representatives, licensors or suppliers is advised in ad-vance of the possibility of such losses or damages, including but not limited to: (a) any loss of present or prospective profits or (b) any loss or damage arising where the relevant financial instrument is not the subject of a particular credit rating assigned by EHRG. The limitations do not apply to the extent that fraud, intent or any other type of liability cannot be excluded and/or limited under applicable law.
EHRG and its directors, officers, employees, agents, representatives, licensors and suppliers disclaim liability for any direct or compensatory losses or damages caused to any person or entity, on the part of, or any contingency within or beyond the control of, EHRG or any of its directors, officers, employees, agents, representatives, licensors or suppliers, arising from or in connection with the information contained herein or the use of or inability to use any such information. The limitations do not apply to the extent that fraud, intent or any other type of liability cannot be excluded and/or limited under applicable law.
NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY SUCH RATING OR OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY EHRG IN ANY FORM OR MANNER WHATSOEVER.
The dissemination and use of an EHRG rating report may be prohibited by law in certain jurisdictions. Any persons who come into the possession of such information should inquire about and comply with any prohibitions that may be in place. EHRG assumes no liability of any kind with respect to such dissemination and use of any rating in any jurisdiction whatsoever.
Euler Hermes Rating GmbH
Kontakt:
Torsten Schellscheidt, Senior Analyst
Matthias Peetz, Senior Analyst
Euler Hermes Rating GmbH:
Friedensallee 254
22763 Hamburg
Tel.: 040 8834-640
E-Mail: info@eulerhermes-rating.com
www.eulerhermes-rating.com
Original content of: Scope Hamburg GmbH, transmitted by news aktuell