Ingvar Stef News Today

• Foreign exchange exposure limited Yesterday, the international rating company Fitch Ratings upgraded RE’s Long Term Issuer Default Rating (IDR) to BBB- from BB+. This means that Fitch now rates RE as investment grade. Outlook is stable. The upgrade is primarily based on Fitch’s expectations of RE’s improvement in credit metrics over the next four years. The expectations reflect RE’s stellar performance in 2020, in the midst of the global pandemic. Furthermore, the credit rating refl...

Icelandic Today, April 8th Orkuveita Reykjavíkur (OR; Reykjavik Energy) concluded a closed green bond offering in a new bond series, OR180242 GB. The bonds pay a fixed, non-indexed interest rate with a semiannual fixed principal amortization schedule and has a final maturity on February 18th 2042. The series attracted bids totaling ISK 5,049m at yields between 3.99%-4.65%. OR accepted bids amounting to ISK 2,198m at a yield of 4.35%. Fossar Markets managed the process on behalf of OR. The gre...