The ESB has earned similar credit ratings to its biggest shareholder – the State.

The energy company yesterday confirmed that three international credit ratings agencies have classed its debts as investment grade, giving it access to more lenders the next time it is seeking to raise money.

Fitch has assigned it a BBB+ rating with a stable outlook, Moody’s a Baa1, and a provisional Baa1 to the ESB’s €3 billion European medium term bond, and Standard Poor’s have assigned it a BBB+ rating.

The ESB’s assets are valued at about €7 billion.