ENEL: STANDARD & POOR S REVISES LONG-TERM RATING TO BBB+ AND CONFIRMS SHORT-TERM RATING AT A-2 . THE OUTLOOK IS STABLE

Published on jueves, 8 marzo 2012

Rome, March 8th, 2012 – Rating agency Standard & Poor’s announced today that it has lowered its long-term rating for Enel S.p.A. (“Enel” or the “Company”) to “BBB+” (from “A-”). The agency also announced that it had confirmed its short-term rating of “A-2” for Enel. Following the removal of the negative creditwatch, the outlook was rated as stable.
The change in the Enel rating mainly reflects the deterioration in the macroeconomic situation in Italian and Spanish markets and the higher volatility of margins in the power generation sector. The downgrade was accompanied by an analogous revision of the stand-alone rating of the Company and follows Standard & Poor's downgrade of its rating of the Italian sovereign debt.
Finally, the agency noted that the measures the Company is taking to counter the impact of the economic crisis will help improve the financial risk profile of the Enel Group despite the weakness of the economic outlook that Standard and Poor’s has projected for the Italian and Spanish markets.

Price Sensitive | marzo, 08 2012

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