Moody's Affirms 'Baa1' Rating for Amprion, Outlook Now Negative

Amprion GmbH, a transmission system operator in Germany, has received a "Baa1" investment grade rating from Moody's Ratings during their annual review. However, the outlook is now "negative." Moody's also maintained the “Prime-2” short-term and commercial paper ratings.

This change is primarily due to increasing investment volumes impacting cash flow metrics. Amprion plans to invest €36.4 billion in the German grid by 2029, investments considered low risk from an earnings perspective.

Peter Rüth, Amprion's CFO, emphasized the importance of these investments for a climate-neutral energy system. Despite the negative outlook shift, Amprion remains within a solid investment grade range, appealing to debt investors.