ROMGAZ

Ratings & Debt Inventors Information

ROMGAZ Overview and Financial Strength 

ROMGAZ, one of the largest natural gas companies in Southeast Europe, maintains a strong financial profile, underpinned by favourable rating (Investment Grade Rating) assigned by Fitch Ratings, which reflect the company's financial stability and its ability to manage debt efficiently. ROMGAZ plans to access capital markets to finance its growth, balancing business development with financial responsibility, which ensures the trust of its investors and partners.

Investor Relations and Credit Quality

ROMGAZ focuses on accessing a broad debt investor base and diversifying its funding sources, aiming to maintain a well-balanced mix of debt maturities and a combination of fixed and floating interest rates. ROMGAZ actively fosters strong relationships with its debt investors and lenders, ensuring continued trust and support in its financial strategies.

ROMGAZ RATING

Fitch Ratings Limited ("Fitch") has assigned SNGN Romgaz SA `BBB-` Long - term Issuer Default Rating (IDR) with a stable outlook

According to Fitch’s rating action commentary, the rating “reflects ROMGAZ's dominant position in Romania's natural gas market, upstream production growth potential from the Neptun Deep and Caragele reservoir developments and conservative financial policy”.

“Achieving 'BBB-' investment grade credit rating at ROMGAZ is a testament to our strong financial position, healthy business profile and disciplined approach to growth, this being another vote of confidence in our strategy. Our investment grade credit ratings will allow us to more effectively and efficiently access the credit markets as we continue to execute our growth strategy,” said Razvan Popescu, ROMGAZ Chief Executive Officer. 

Ratings Actions Highlits

ROMGAZ DEBT

Outline of funding policy

ROMGAZ accesses funding from banks and capital markets and operates a conservative balance sheet strategy and prudent liquidity management, maintaining revolving credit facilities to provide additional committed liquidity.

Bonds & Loans

Bonds

Euro Medium Term Note (EMTN) Programme

On 20 September 2024, Commission de Surveillance du Secteur Financier Luxembourg approved the Base Prospectus related to Romgaz’ EUR 1,500,000,000 EMTN Programme. The Base Prospectus and information incorporated by reference in the Base Prospectus may be found below:

• 2024 EMTN Base Prospectus - Base Prospectus Societatea Națională de Gaze Naturale "Romgaz" SA
• Audited consolidated financial statements in English for the year ended 31 December 2022  - Consolidated Financial Statements for the year ended December 31, 2022, prepared in accordance with the Order of the Ministry of Public Finance 2844/2016
• The auditors’ report in respect of the 2022 Audited Financial Statements - Independent Auditor’s Report to the Shareholders of SNGN ROMGAZ S.A. Report on the Audit of the consolidated financial statements.
• The audited consolidated financial statements for the year ended 31 December 2023 - S.N.G.N. Romgaz S.A. Group consolidated financial statements for the year ended december 31, 2023
• The auditors’ report in respect of the 2023 Audited Financial Statements - Independent Auditor’s Report to the Shareholders of SNGN ROMGAZ S.A. Report on the Audit of the consolidated financial statements
• Board of Directors’ Report 1st Half Year 2024 containing the Unaudited Interim Financial Statements and the auditors’ review report - Ist Half Year 2024 Board of Directors Report
  
  

Loans

2024 EMTN Base Prospectus

EMTN BASE PROSPECTUS