EthiFinance Ratings, an independent European credit rating agency specialising in ESG financing, has initiated coverage of Ence Energía y Celulosa with a long-term credit rating of BBB-, with an “Evolving” trend.
The rating is supported by the Group’s solid business profile, underpinned by activities with attractive returns and favourable growth prospects. EthiFinance highlights Ence’s leading position in the European BHKP (Bleached Hardwood Kraft Pulp) market, as well as the significant presence of its diversified renewable energy platform based on biomass.
The agency also positively values Ence’s proximity to European customers, its growing specialisation in higher value-added products, the energy integration of its production processes, a prudent financial policy, an adequate liquidity position, and the development of comprehensive and robust ESG policies.
Competitiveness improvement process
According to the rating agency, the “Evolving” trend reflects that the Ence Group is currently undergoing a process of expansion and competitiveness enhancement across its two main business areas. The consolidation of this process is expected to further strengthen the Group’s operating and financial profile.
Excellent ESG rating by EthiFinance
In addition, in the ESG domain, EthiFinance has awarded Ence an “Excellent” rating in its Solicited Sustainability Rating (SSR), with a score of 8.4 out of 10. This assessment analyses the company’s performance across four pillars: governance, environmental performance, social – own workforce, and social – external stakeholders.
