Green Network UK
14th June 2017 - greennetworkenergy.co.uk

Cerved re-confirms Green Network's B1.1 rating

Cerved Rating Agency S.p.A. re-confirms the B1.1 public rating of Green Network S.p.A.

The rating of the Cerved Rating Agency, issued pursuant to Regulation (EC) 1060/2009 and its subsequent amendments and additions, is an opinion on creditworthiness that expresses the capacity of the evaluated company to meet its obligations.

The B1.1 Class rating is given to “a company that has an adequate ability to cope with financial commitments, which may be affected by serious and sudden changes in the economic and financial situations as well as the reference market. The credit risk is contained.”

The confirmation of the B1.1 rating is closely related to the balance sheet/financial position shown in 2016 by the Green Network Group. The economic results achieved in 2016 reflect the management strategy aimed at redefining the group structure, which will be further streamlined in the short to medium term, and focused on energy and gas sales in micro-business, SME and domestic markets in a view to increase marginality, also at the detriment of a contraction in business volumes.

2017 should benefit from the closure of cross-selling agreements with Conad and the Sustainability Purchasing Group as well as the start-up of retail activities in the UK, with the consequent expansion of its customer base.