Fitch Ratings Limited (“Fitch”) assigned investment grade credit rating 'BBB-' with a stable outlook

Societatea Nationala de Gaze Naturale ROMGAZ S.A. (“Romgaz” or “the Company”) informs its shareholders and investors that Fitch Ratings Limited (“Fitch”) assigned investment grade credit rating 'BBB-' with a stable outlook. This is the Company’s inaugural credit rating.

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. 

More details about the rating action commentary are available at: https://www.fitchratings.com/research/corporate-finance/fitch-assigns-romanian-romgaz-first-time-bbb-rating-outlook-stable-21-05-2024