Moody's Affirms RWE Rating Amid 'Substantial' Capital Expenditure Plan; Outlook Stable

12:16 AM EDT, 08/21/2026 (MT Newswires) -- Moody's on Thursday maintained RWE's (RWE.F) long-term issuer rating at Baa2, citing expectations that the company's credit profile will remain aligned with the category even as it plans up to 42 billion euros in net cash investments from 2026 to 2031. The rating agency noted that despite the "substantial" capital expenditure plan, the German energy group continues to have flexibility in final investment decisions and holds the option for partnerships and disposals to limit the program's cash impact. Moody's said the rating is also supported by the scale and diversification of the group's power generation portfolio, while highlighting the company's business risk profile and non-core carbon-intensive coal generation activities. The stable outlook, meanwhile, reflects the rating agency's expectations that RWE's key financial metrics will remain in line with the guidance for the rating.