Creditreform suspends SAG Solarstrom's credit rating

Dec 9, 2013 - Rating agency Creditreform Rating AG Friday cancelled the BB+ credit rating of German solar power plant specialist SAG Solarstrom AG (ETR:SAG) following the company's reduced outlook for 2013.

The rating agency needs to update the credit rating and analyse the financial figures of SAG Solarstrom after the troubled solar company said on November 29 that it expects an operating loss and a significant drop in sales. Earlier, SAG Solarstrom had projected a positive operating result and sales volume of over 117 MWp. The revision was caused by a delay in projects with capacity in the triple-digit MW range.

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