Skip to main content

Atea receives BBB+ credit rating from Nordic Credit Rating

Newsletter 2022-09-28

Nordic Credit Rating (NCR) has today assigned a first-time long-term issuer rating of ‘BBB+’ with a ‘Stable’ outlook to Atea ASA.

NCR comments in its report, “Our ‘BBB+’ long-term issuer credit rating of Norway-based IT infrastructure provider Atea reflects the company’s low financial leverage as a result of strong operating cash flow and low investment requirements. It also reflects Atea’s strong position as the largest provider of IT infrastructure in each of its markets in the Nordic and Baltic regions and the third largest provider in Europe. We see the company’s focus on the public sector as an additional credit strength due to the sector’s relatively low cyclicality.”

Atea CFO Robert Giori comments, “We are very satisfied with NCR’s overall assessment of Atea’s business risk and financial position resulting in a strong investment grade credit rating. Atea has no immediate plans for a public debt issue, but the investment grade credit rating from NCR provides Atea with additional flexibility in addressing long-term financing requirements, including those associated with the maturity of its loan with the European Investment Bank in May 2023.”

Nordea advised Atea ASA as Sole Rating Advisor in the credit rating process.

The credit reports from Nordic Credit Rating can be found here:

For additional information, please contact:
Robert Giori, CFO Atea ASA, mobile +47 934 09 188