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:
https://nordiccreditrating.com/issuer/atea-asa
For additional information, please contact:
Robert Giori, CFO Atea ASA, mobile +47 934 09 188