Current Rating
Rating FAQ
Long-term  :   twAA
Short-term  :   twA-1+
Outlook  :  Stable
Issuer Rating History
Rating Date Long-term Rating outlook (credit watch) Short-term Rating
2025/02/10 twA+ Negative twA-1
2024/02/21 twAA- Stable twA-1+
2023/11/06 twAA Watch Neg twA-1+
2019/09/24 twAA Stable twA-1+
Research Analysis
Publish Date Subject
2025/02/10 Media Release: Orsted A/S And Orsted Wind Power TW Holding A/S Downgraded To 'twA+/twA-1' On Further Write-Downs; Outlook Negative
2024/08/27 Research Update: Orsted A/S And Orsted Wind Power TW Holding A/S Ratings Affirmed At 'twAA-/twA-1+'; Outlook Stable
2024/02/21 Media Release: Orsted A/S And Orsted Wind Power TW Holding A/S Downgraded To 'twAA-/twA-1+' On Higher Leverage And Industry Risk; Outlook Stable
2023/11/06 Media Release: Orsted A/S And Orsted Wind Power TW Holding A/S Ratings Placed On CreditWatch Negative On Substantial Charges
2023/08/29 Research Update: Ratings On Orsted A/S And Orsted Wind Power TW Holding A/S Affirmed At 'twAA/twA-1+'; Outlook Stable
2022/12/05 Research Update: Orsted A/S And Orsted Wind Power TW Holding A/S 'twAA/twA-1+' Ratings Affirmed On Steady Performance; Liquidity Revised To Adequate; Outlook Stable
2022/08/19 Research Update: Orsted A/S And Orsted Wind Power TW Holding A/S Ratings Affirmed At 'twAA/twA-1+'; Outlook Stable
2021/08/12 Research Update: Orsted A/S And Orsted Wind Power TW Holding A/S Ratings Affirmed At 'twAA/twA-1+'; Outlook Stable
2020/08/20 Research Update: Orsted A/S And Orsted Wind Power TW Holding A/S Ratings Affirmed At 'twAA/twA-1+'; Outlook Stable
Last 5 Years Issue Rating History
Series Amount
(Million)		 Issue Date Maturity Date
 Coupon Rate
(%)		 Rating Rating Date
None
*Taiwan Ratings maintains continuous surveillance over its ratings and the “Rating date” below refers to the last date on which the ratings/outlook have been changed or the ratings on/off CreditWatch.
*Unless there is a material change in our rating views on a given entity, Taiwan Ratings does not update the “Rating date,” which is accordance with the general international practice for rating disclosures.