SOLARIA CASIOPEA SAU
Type of ratings: Project Finance
Rating value: BBB
Outlook: Stable
License: EthiFinance Ratings
Solicited
EthiFinance Ratings affirms Solaria Casiopea, S.A.U.'s rating at "BBB", maintaining its Stable outlook. Solaria Casiopea, S.A.U. is a company engaged in the generation of electricity through the operation of three solar photovoltaic plants located in Almería, León and Ciudad Real, with a combined nominal capacity of 2.42 MW. The three plants are built and in operation, with positive operating performance. At year-end 2021, the company reported revenues of € 1.6MM (+22.5%) and EBITDA of € 1.3MM (+33.5%), demonstrating a positive capacity to meet its financial commitments through a Debt Service Coverage Ratio (DSCR) of 1.79x (+0.1x).
Ratings
Rating action: Under Observation
Review due to methodologies update.
Action date: 24/07/2023
Date last rating: 05/12/2022
Date first rating: 14/12/2017
Methodology