Moody’s affirms "Baa1" rating of Amprion and changes outlook to negative

As part of its annual review, the transmission system operator Amprion GmbH ("Amprion") has again received a solid "Baa1" investment grade rating from the international rating agency Moody's Ratings. At the same time, the outlook was changed to "negative".

In addition to this long-term rating, Moody's has affirmed the “Prime-2” short-term and commercial paper ratings.

According to the rating agency, this is largely due to the increasing investment volume and the related pressure on rating-relevant cash flow metrics.

Between 2025 and 2029, Amprion plans to invest around € 36.4 billion in the expansion and upgrade of the transmission grid in Germany. The investments are secured by regulation and pose a very low risk from an earnings perspective.

Peter Rüth, Chief Financial Officer of Amprion: "One focus of rating agencies is on investment volumes of German TSO´s. Our increasing investment plan and, as a result, our growing financing requirements are in line with the legal mandate to expand and upgrade the transmission system while we are paving the way for a climate-neutral energy system in Germany. Amprion continues to be in the solid investment grade range, which is attractive for debt investors. It is our clear goal to maintain a solid investment grade rating in the future.“

The press release on the current rating is available on the Moody’s Ratings homepage.

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