TenneT Germany Achieves First Investment-Grade Rating from Fitch

TenneT GmbH & Co. KG, operating as TenneT Germany, has secured its initial investment-grade rating from Fitch Ratings. The agency assigned a long-term issuer default rating of BBB+ with a stable outlook, and a short-term rating of F2. TenneT’s senior unsecured debt is rated A-. This rating complements the BBB+ rating from S&P Global Ratings, supporting TenneT’s strategy to access capital markets.

Fitch acknowledged TenneT Germany’s equity commitments stemming from its new ownership structure and its pivotal role in transforming the energy system. Highlights include the firm’s strong business profile as a leading German transmission system operator and the stability of its regulated revenue stream in the grid business.

TenneT plans to invest around €13 billion annually from 2026 to 2030 in grid expansion and modernization to support renewable energy integration. Ratings remain contingent upon the completion of transactions with partners including KfW and APG.