VALFORTEC SL
Type of ratings: Corporate
Rating value: BBB-
Outlook: Observation
License: EthiFinance Ratings
Solicited
EthiFinance ratings affirms Valfortec, S.L. s "BBB-" rating, changing the outlook from Stable to In Observation. Valfortec is positioned as an independent power producer (IPP) using photovoltaic solar technology, with an operational project portfolio of 55.5 MW in Spain, Japan, Chile and the UK. The company is currently facing an important growth plan for its project portfolio, based on a 597 MW pipeline in an advanced stage of development. In 2022, the company achieved an adjusted revenue of € 33.2M (-20.9% YoY), an adjusted EBITDA of € 19.9M (-12.7% YoY), and a pre-tax profit of € 3.8M (-3.8% YoY).
Ratings
Rating action: Affirmed
Action date: 2023-07-31
Date last rating: 2023-07-31
Date first rating: 2021-03-12
Methodology