Ferde AS has been assigned an AA+ rating with Stable Outlook from Scope Ratings.
Ferde's loans are secured with project-specific surety guarantees, mainly from one of the three owner counties: Vestland, Rogaland, or Agder. Future bond issuances will therefore also be assigned separate credit ratings based on the underlying guarantee/guarantor.
Ferde finances toll road projects in Southwestern Norway, including both road project and urban development projects. The company expects revenues of approximately NOK 4.6 billion for the current year and had, as of the end of September 2024, a loan portfolio of NOK 24.4 billion, divided into NOK 6.3 billion in long-term bank loans and NOK 18.1 billion in certificates and bonds of varying maturities (up to 20 years). About 20 percent of the loan portfolio is defined as green loans. As of the end of September 2024, the company's loan portfolio had a weighted maturity to expiry of 5.0 years and an interest rate hedging ratio of 49.5 percent. The interest rate hedging has a weighted maturity of 5.0 years.
Due to new projects in the region, we expect both revenues and the loan portfolio to increase significantly in the coming years.
For further information, contact CFO Øystein Holm Solheim
Oystein.holm.solheim@ferde.no
Mobile +47-47 63 64 29
You can read our credit rating for 2024 on Ferde's report page or on Scope ratings page.