Wintershall Dea received inaugural Baa2 rating from Moody’s and BBB rating from Fitch, both with stable outlook
Moody’s Investors Service (“Moody’s”) and Fitch Ratings (“Fitch”) have assigned Baa2 and BBB long term issuer ratings respectively to Wintershall Dea GmbH (“Wintershall Dea”), both with stable outlooks.
Paul Smith, CFO of Wintershall Dea, commented “The strong investment grade issuer ratings from Moody’s and Fitch underpin the operational and financial strength of the recently formed Wintershall Dea. This is an important first step for the new company, allowing us to consider a range of options to continue to pursue our strategy within a clear financial policy framework anchored around a commitment of maintaining a strong balance sheet“
About Wintershall Dea
With the merger of Wintershall Holding GmbH and DEA Deutsche Erdoel AG, two successful companies with a long tradition have formed Europe’s leading independent natural gas and oil company: Wintershall Dea. The company with German roots and headquarters in Kassel and Hamburg explores for and produces gas and oil in 13 countries worldwide in an efficient and responsible manner. With activities in Europe, Russia, Latin America and the MENA region (Middle East & North Africa), Wintershall Dea has a global upstream portfolio and, with its participation in natural gas transport, is also active in the midstream business.
Wintershall Dea stands for more than 120 years of experience as an operator and project partner along the entire E&P value chain. The company employs around 4,000 people worldwide from over 60 nations. The company plans to increase its average daily production from around 590,000 barrels of oil equivalent to a range of 750,000 to 800,000 barrels in the period between 2021 and 2023. In the medium term, an initial public offering of Wintershall Dea is envisaged.