RWE Will Exceed Net Debt to Ebitda Target on German Nuclear Tax

RWE AG, Germany’s second-largest utility, said a tax on nuclear reactors means the company won’t be able to keep net debt to three times or less adjusted earnings before interest, tax, depreciation and amortization.

“We are orientating ourselves toward an upper limit of 3.0,” RWE said today in its report on 2010. “In view of the anticipated decline in earnings in the current year, however, we will exceed this mark at first.”