Scope rates RTE, Réseau de Transport d’Electricité, on a subscription basis. To view Scope’s subscription rating and issuer report or to register, please click here.

The company hosted fixed-income investor calls yesterday to provide a credit update and present its Green Financing Framework and went into the market with initial price thoughts of 75bp over mid-swaps, according to Bond Radar (www.bondradar.com).

RTE is a government-related entity but since there is not a strong level of integration with government authorities (such as statutory debt guarantees), Scope applied a bottom-up rating approach. In its August 2021 rating report, Scope noted RTE’s strong business risk profile, reflecting the group’s monopolistic position and supportive tariff regulation framework, which guarantee robust operating cash flow.

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