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Midroog assigns A2.il, positive outlook to Enlight (ENLT) NIS 1B bonds

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Enlight Renewable Energy Ltd. furnished a credit rating update from Midroog, an affiliate of Moody’s, covering its Israeli shekel bonds. Midroog assigns an A2.il issuer rating with a positive outlook and the same A2.il, positive outlook rating to debentures issued through an expansion of Series 7 in an amount of up to NIS 1 billion par value, compared with a previously rated amount of up to NIS 550 million par value. Other outstanding Enlight bond series, with final maturities between 2026 and 2033, also carry A2.il ratings with positive outlooks. The report stresses that these ratings are opinions on relative creditworthiness within Israel and are not investment advice.

Positive

  • None.

Negative

  • None.

Insights

Midroog assigns A2.il, positive outlook to Enlight’s expanded NIS 1B Series 7 debentures.

Midroog rates Enlight Renewable Energy Ltd. at A2.il with a positive outlook, and extends this rating to debentures issued via an expansion of Series 7 up to NIS 1 billion par value. This suggests relatively high local credit quality within Israel’s market-based scale.

Multiple Enlight bond series maturing between 2026 and 2033 share the same A2.il, positive outlook, indicating consistent treatment across its capital structure. The analysis is based on information from company personnel and Midroog methodologies, and is explicitly framed as a credit-risk opinion rather than investment advice.

Series 7 expansion size up to NIS 1 billion par value Debentures to be issued through Series 7 expansion
Previously rated Series 7 amount up to NIS 550 million par value Prior cap for Series 7 debentures in May 11, 2026 report
Issuer rating A2.il Enlight Renewable Energy Ltd. issuer rating, outlook positive
Series rating A2.il Debentures issued via Series 7 expansion, outlook positive
Bond maturity ENLIGHT B6 01.09.2026 Final maturity date for ENLIGHT B6, rated A2.il positive
Bond maturity ENLIGHT B7 01.09.2033 Final maturity date for ENLIGHT B7, rated A2.il positive
Bond maturity ENLIGHT C3 01.09.2028 Final maturity date for ENLIGHT C3, rated A2.il positive
First rating publication April 15, 2019 Date of first publication of Enlight’s rating by Midroog
A2.il financial
"Issuer Rating | A2.il | Outlook: Positive Series Rating | A2.il | Outlook: Positive"
positive outlook financial
"Issuer Rating | A2.il | Outlook: Positive Series Rating | A2.il | Outlook: Positive"
debentures financial
"Midroog assigns an A2.il rating with a positive outlook to debentures to be issued by Enlight Renewable Energy Ltd."
A debenture is a company’s long-term IOU sold to investors that promises regular interest payments and repayment of principal at a set date; unlike equity, it represents debt rather than ownership. Think of it like lending money to a business in exchange for a fixed stream of payments, so investors watch a debenture’s interest rate and the borrower’s financial health to judge income reliability and risk of not being repaid.
par value financial
"through an expansion of Series 7 in an amount of up to NIS 1 billion par value"
Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.
creditworthiness financial
"Midroog defines creditworthiness as the issuer’s ability to meet its contractual obligations"
Creditworthiness is a measure of how likely an entity is to repay borrowed money and meet its financial commitments; think of it as the borrower’s reputation for paying back loans. It matters to investors because higher creditworthiness usually means easier access to financing and lower borrowing costs, while lower creditworthiness raises the risk of default and can reduce a company’s value or increase yields demanded by lenders.
long-term rating scale financial
"Long-Term Rating Scale Aaa.il | Issuers or issues rated Aaa.il are those that, in Midroog judgment, have highest creditworthiness"
Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 6-K
 
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
 
For the month of May 2026
 
Commission File Number: 001-41613
 
Enlight Renewable Energy Ltd.
(Translation of registrant’s name into English)

13 Amal St., Afek Industrial Park
Rosh Ha’ayin, Israel
+ 972 (3) 900-8700
(Address of principal executive office)
 
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
 
Form 20-F ☒ Form 40-F ☐
 

Explanatory Note

On May 12, 2026, Midroog Ltd., an affiliate of Moody’s, submitted a ratings report to the Israel Securities Authority and the Tel Aviv Stock Exchange regarding the unsecured series G notes to be issued by Enlight Renewable Energy Ltd. (the “Company”)

An unofficial English translation of such ratings report from the original binding Hebrew version is furnished as Exhibit 99.1 to this Report on Form 6-K.
 
Incorporation by Reference
 
The information in this Form 6-K (including in Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act.

EXHIBIT INDEX

The following exhibits are furnished as part of this Form 6-K:

Exhibit No.
Description

99.1
Unofficial English Translation of Ratings Report
2

SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
 
Enlight Renewable Energy Ltd.
     
Date: May 12, 2026
By:
/s/ Lisa Haimovitz
   
Lisa Haimovitz
   
Chief Financial Officer

3
Exhibit 99.1


Enlight Renewable Energy Ltd.
 
Rating Action Update | May 2026
 
This credit rating report is a translation of a report that was written in Hebrew for a debt issued in Israel.
The binding version is the one in the original language.

Contacts:
 
Robert Avdalimov
Senior Analyst, Lead Rating Analyst
robert.a@midroog.co.il
 
Alon Cohen
Analyst, Secondary Rating Analyst
alon.c@midroog.co.il
 
Iris Sde Or, Vice President
Head of Projects and Infrastructure
iris.s@midroog.co.il
MIDROOG

Enlight Renewable Energy Ltd.

Issuer Rating
A2.il
Outlook: Positive
Series Rating
A2.il
Outlook: Positive
 
Midroog assigns an A2.il rating with a positive outlook to debentures to be issued by Enlight Renewable Energy Ltd. (the "Company"), through an expansion of Series 7 in an amount of up to NIS 1 billion par value, instead of an amount of up to NIS 550 million par value, which had previously been rated in the rating action report dated May 11, 2026.
 
Outstanding bonds rated by Midroog:

Bond series
Security No.
Rating
Outlook
Final Maturity
ENLIGHT C3
7200249
A2.il
Positive
01.09.2028
ENLIGHT B4
7200256
A2.il
Positive
01.09.2029
ENLIGHT B6
7200173
A2.il
Positive
01.09.2026
ENLIGHT B7
1218122
A2.il
Positive
01.09.2033
ENLIGHT C8
1218130
A2.il
Positive
01.09.2033
 
For information on the full rating considerations, please refer to the Company's Monitoring and Rating Action report from May 11, 2026.
 
Rating History
 
 
2
12/05/2026
Enlight Renewable Energy Ltd. – Rating Action Update
 
MIDROOG

Related Reports
 
Enlight Renewable Energy Ltd. – Related Reports
Rating Power Producers – Methodology Report, January 2023
Developments in the Energy Companies Sector – Special Report, February 2026.
Financial Statement Adjustments and Presentation of Main Financial Measures in Corporate Rating – Methodology Report, December 2024
Structural Considerations in Rating Debt Instruments in Corporate Finance – Methodology Report, September 2019
Guidelines for Reviewing Environmental, Social and Governance Risks in Credit Ratings – Methodology Report, February 2022
Midroog Rating Scales and Definitions

The reports are published on the Midroog website at www.midroog.co.il
 
General Information
 
Date of rating report:
May 12, 2026
Date of last revision of the rating:
May 11, 2026
Date of first publication of the rating:
April 15, 2019
Rating commissioned by:
Enlight Renewable Energy Ltd.
Rating paid for by:
Enlight Renewable Energy Ltd.
 
INFORMATION FROM THE ISSUER
 
Midroog relies in its ratings inter alia on information received from competent personnel at the issuer.

3
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Enlight Renewable Energy Ltd. – Rating Action Update
MIDROOG

Long-Term Rating Scale
 
Aaa.il
Issuers or issues rated Aaa.il are those that, in Midroog judgment, have highest creditworthiness relative to other local issuers.
Aa.il
Issuers or issues rated Aa.il are those that, in Midroog judgment, have very strong creditworthiness relative to other local issuers.
A.il
Issuers or issues rated A.il are those that, in Midroog judgment, have relatively high creditworthiness relative to other local issuers.
Baa.il
Issuers or issues rated Baa.il are those that, in Midroog judgment, have relatively moderate credit risk relative to other local issuers, and could involve certain speculative characteristics.
Ba.il
Issuers or issues rated Ba.il are those that, in Midroog judgment, have relatively weak creditworthiness relative to other local issuers, and involve speculative characteristics.
B.il
Issuers or issues rated B.il are those that, in Midroog judgment, have relatively very weak creditworthiness relative to other local issuers, and involve significant speculative characteristics.
Caa.il
Issuers or issues rated Caa.il are those that, in Midroog judgment, have extremely weak creditworthiness relative to other local issuers, and involve very significant speculative characteristics.
Ca.il
Issuers or issues rated Ca.il are those that, in Midroog judgment, have extremely weak creditworthiness and very near default, with some prospect of recovery of principal and interest.
C.il
Issuers or issues rated C are those that, in Midroog judgment, have the weakest creditworthiness and are usually in a situation of default, with little prospect of recovery of principal and interest.
 
Note: Midroog appends numeric modifiers 1, 2, and 3 to each rating category from Aa.il to Caa.il. The modifier '1' indicates that the obligation ranks in the higher end of its rating category, which is denoted by letters. The modifier '2' indicates that it ranks in the middle of its rating category and the modifier '3' indicates that the obligation ranks in the lower end of that category, denoted by letters.

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Enlight Renewable Energy Ltd. – Rating Action Update
 
MIDROOG

Copyright © All rights reserved to Midroog Ltd. (hereinafter: “Midroog”).
 
CREDIT RATINGS ISSUED BY MIDROOG ARE MIDROOG’S SUBJECTIVE OPINIONS ABOUT THE RELATIVE FUTURE CREDITWORTHINESSOF ENTITIES, CREDIT OBLIGATIONS, DEBTS AND/OR DEBT-LIKE FINANCIAL INSTRUMENTS, WHICH APPLY ON THE DATE OF THEIR PUBLICATION OR OTHER MEANS OF PROVISION, AND AS LONG AS MIDROOG HAS NOT CHANGED THE RATING OR WITHDRAWN IT AND MATERIALS, PRODUCTS, SERVICES AND INFORMATION PUBLISHED OR OTHERWISE MADE AVAILABLE BY MIDROOG (COLLECTVELY, “MATERIALS”) MAY INCLUDE SUCH OPINIONS. MIDROOG DEFINES CREDITWORTHINESS AS THE ISSUER’S ABILITY TO MEET ITS CONTRACTUAL OBLIGATIONS AND LOSS IN THE EVENT OF DEFAULT OR IMPAIRMENT . MIDROOG'S CREDIT RATINGS DO NOT ADDRESS ANY OTHER FACTOR, INCLUDING BUT NOT LIMITED TO RISKS RELATING TO LIQUIDITY, MARKET VALUE, CHANGE IN INTEREST RATES, PRICE VOLATILITY, OR ANY OTHER NON-CREDITWORTHINESS ELEMENT. CREDIT RATINGS, NON-CREDIT ASSESSMENTS (“ASSESSMENTS”), AND OTHER OPINIONS INCLUDED IN MIDROOG’S MATERIALS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT. MIDROOG’S MATERIALS MAY ALSO INCLUDE QUANTITATIVE MODEL-BASED ESTIMATES OF CREDITWORTHINESS, AS WELL AS RELATED OPINIONS OR COMMENTARY. MIDROOG’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND MATERIALS DO NOT CONSTITUTE OR PROVIDE INVESTMENT OR FINANCIAL ADVICE, AND MIDROOG’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND MATERIALS ARE NOT AND DO NOT PROVIDE RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES. MIDROOG’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND MATERIALS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR. MIDROOG ISSUES ITS CREDIT RATINGS, ASSESSMENTS AND OTHER OPINIONS AND PUBLISHES OR OTHERWISE PROVIDES ITS MATERIALS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL, WITH DUE CARE, MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE. EVERY INVESTOR SHOULD OBTAIN PROFESSIONAL ADVICE IN RESPECT TO THEIR INVESTMENTS, TO THE APPLICABLE LAW, AND/OR TO ANY OTHER PROFESSIONAL ISSUE.
 
MIDROOG’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND MATERIALS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS, AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MIDROOG’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR MATERIALS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER.
 
ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW AND BY INTELLECTUAL PROPERTY LAW. NONE OF SUCH INFORMATION MAY BE COPIED, OR OTHERWISE SCANNED, AMENDED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED, DUPLICATED, DISPLAYED, TRANSLATED, RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON, WITHOUT ADVANCE WRITTEN CONSENT FROM MIDROOG.
Midroog makes use of rating scales to issue its opinions, according to definitions detailed in the scale itself. The choice of a symbol to reflect Midroog’s opinion with respect to creditworthiness reflects solely a relative assessment of such creditworthiness. Midroog’s credit ratings are not issued on a global scale – they are opinions of the creditworthiness of issuers and their financial obligations relative to that of other issuers and financial obligations within Israel.
 
MIDROOG CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND MATERIALS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK.

NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY RATING, ASSESSMENT, OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY MIDROOG IN ANY FORM OR MANNER WHATSOEVER.
 
All the information contained in Midroog Ratings, Assessments, other opinions and Materials (hereinafter: "the Information") is obtained by Midroog from sources believed by it to be accurate and credible. Because of the possibility of human or mechanical error as well as other factors, however, all information contained herein is provided “AS IS” without warranty of any kind. Midroog is not responsible for the accuracy of the Information. Midroog exercises reasonable means so that the information it uses in assigning a credit rating is of sufficient quality and that it originates from sources Midroog considers to be credible, including information received from independent third parties, if and when appropriate. However, Midroog is not an auditor and cannot in every instance independently verify or validate information received in the credit rating process or in preparing its Materials.
 
The provisions of any Midroog Materials other than one expressly stated as a methodology do not constitute part of any Midroog methodology.

To the extent permitted by law, Midroog and its directors, officers, employees, agents, representatives, licensors and suppliers disclaim liability to any person or entity for any indirect, special, consequential, or incidental losses or damages whatsoever arising from or in connection with the information contained herein or the use of or inability to use any such information, even if Midroog or any of its directors, officers, employees, agents, representatives, licensors or suppliers is advised in advance of the possibility of such losses or damages, including but not limited to: (a) any loss of present or prospective profits or (b) any loss or damage arising where the relevant financial instrument is not the subject of a particular credit rating assigned by Midroog.
 
To the extent permitted by law, Midroog and its directors, officers, employees, agents, representatives, licensors and suppliers disclaim liability for any direct or compensatory losses or damages caused to any person or entity, including but not limited to by any negligence (but excluding fraud, willful misconduct or any other type of liability that, for the avoidance of doubt, by law cannot be excluded) on the part of, or any contingency within or beyond the control of, Midroog or any of its directors, officers, employees, agents, representatives, licensors or suppliers, arising from or in connection with the information contained herein or the use of or inability to use any such information.
 
Midroog maintains policies and procedures in respect to the independence of the rating and the rating processes.
A rating, assessment or opinion issued by Midroog may change as a result of changes in the information on which it was based and/or as a result of new information and/or for any other reason. When applicable, updates and/or changes in ratings are presented on Midroog’s website at www.midroog.co.il.

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12/05/2026
Enlight Renewable Energy Ltd. – Rating Action Update

Source: View Original Filing on SEC EDGAR

FAQ

What credit rating did Midroog assign to Enlight Renewable Energy (ENLT)?

Midroog assigned Enlight Renewable Energy an A2.il issuer rating with a positive outlook. This reflects relatively high creditworthiness compared with other Israeli issuers, based on Midroog’s local rating scale and methodologies.

How much can Enlight Renewable Energy raise in its expanded Series 7 debentures?

Midroog’s report covers debentures issued through an expansion of Enlight’s Series 7 of up to NIS 1 billion par value. This replaces a previously rated amount of up to NIS 550 million par value for the same series.

Which Enlight Renewable Energy bond series are currently rated by Midroog?

Midroog lists several Enlight bond series, including ENLIGHT C3, ENLIGHT B4, ENLIGHT B6, ENLIGHT B7 and ENLIGHT C8. All are rated A2.il with a positive outlook and have final maturities between 2026 and 2033.

What does the A2.il rating with positive outlook mean for Enlight Renewable Energy?

An A2.il rating with a positive outlook indicates relatively high creditworthiness among Israeli issuers, with potential for future improvement. It addresses Enlight’s ability to meet debt obligations and expected loss in default, not market price or investment suitability.

Is Midroog’s A2.il rating for ENLT investment advice for investors?

Midroog states that its credit ratings and materials do not constitute investment or financial advice. The ratings are subjective opinions on relative credit risk, and investors are expected to perform their own analysis and seek professional advice.

Who commissioned and paid for Midroog’s rating of Enlight Renewable Energy?

The report states that the rating was commissioned and paid for by Enlight Renewable Energy Ltd.. Midroog notes that it relies on information from issuer personnel and other sources it deems credible when forming its credit opinions.

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