Energy Harbor Receives Investment Grade Rating from Fitch Ratings – QNT Press Release

AKRON, Ohio, Nov. 8, 2022 /PRNewswire/ — Energy Harbor Corp. announced today that the company has received an investment grade rating of BBB with a Stable outlook from Fitch Ratings (“Fitch”). Fitch’s report notes that Energy Harbor’s leverage is lower than its peer group as a result of “the beneficial effects of higher power prices on EBITDA along with low debt levels.” Fitch also highlighted the strengthening effect of the recently enacted Inflation Reduction Act of 2022 mechanism which Fitch indicated “would provide a high degree of revenue visibility.”

Tanya RohauerSenior Vice President, Commercial Finance and Treasurer of Energy Harbor said, “We appreciate the thoughtful diligence from the team at Fitch Ratings to understand the low leverage, high quality cash flow and low carbon footprint that drives Energy Harbor’s business model.” Energy Harbor’s Executive Vice President and Chief Financial Officer, Jason Petrik added, “We are pleased Fitch Ratings recognized the value and stability provided to our stakeholders through our balance sheet strength, our transition to a 100 percent carbon free power generator and infrastructure company in 2023 and our stable retail platform that serves nearly one million customers. “

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