|Rating agency||Rating score (long-term)||Rating types||Outlook||Last update|
|S&P Global Ratings||BBB-||Local Currency LT||stable||10th May 2016|
|S&P Global Ratings||BBB-||Foreign Currency LT||stable||10th May 2016|
Uniper's current rating
In May 2016, Uniper received a long-term issuer credit rating from the rating agency S&P Global Ratings (S&P, an affiliate of Standard & Poor's Financial Services LLC). Therein, Uniper was rated a stable company with an investment grade rating of "BBB-". The rating already assumes full financial independence from E.ON.
In the mid-term, Uniper strives for a comfortable investment grade rating.
The aim of a rating is to ensure transparency and comparability of credit risk for investors and creditors. A company's overall creditworthiness and solvency are condensed into a credit rating. A rating agency estimates the credit rating of issuers and emitted financial products (issues). These credit ratings are then made comparable on a universal scale across asset classes.
Rating agencies apply different but generally comparable notations for their ratings. Usually, a higher rating of a debtor is associated with better credit terms, which means that lower interest payments have to be made.
"Investment grade" ratings commonly refer to companies with very good credit ratings. This class of rated companies is especially important for institutional investors such as pension funds and insurance companies that are often obliged to invest in financial products with at least an investment grade rating.
In S&P's rating notation, an investment grade rating is indicated by rating grades AAA, AA, A and BBB. These ratings can be further modified by a plus- or minus suffix. Hence, the lowest investment grade rating is "BBB-". In addition to the rating, agencies note whether they regard the rating as stable over the coming year (outlook).
Within the framework of the rating process, regular, usually once-a-year in-depth talks with the company are conducted during which official information as well as internal strategy and planning details are collected by the rating agency. Accordingly, a comprehensive credit rating is solicited based on all these information (solicited rating).
The credit rating consists of quantitative and qualitative factors including market shares by segment and the company’s competitive position. The rating agency publishes the final rating score which condenses all official and private information gained during the rating process. The publications of the rating score and a rating report support the formation of an opinion on the company's creditworthiness for creditors, investors, regulators, banks and the general public.