Stand-alone credit profile changed due to delays in securitization of Spanish tariff deficit.

Rome, December 10, 2010 - Standard & Poor's today affirmed its long-term credit rating of "A-" and short-term credit rating of "A-2" for Enel SpA ("Enel" or the "Company"). The outlook was confirmed as stable.

Standard & Poor's recognized the Company's ability to complete its announced disposal plan under which it expects to reach a target of 45 billion euros in consolidated net financial debt by the end of 2010, net of the impact of exchange rate differences associated with its medium and long-term debt denominated in foreign currency.

Nevertheless, given the delays in securitizing the Spanish tariff deficit due to current difficult market conditions, as well as the relevant effects for the financial receivables of the subsidiary Endesa, Standard & Poor's changed its stand-alone credit profile for the Company from "A-" to "BBB+".

Standard & Poor's noted that this change does not affect the Company's overall credit rating due to the peculiar ownership structure of Enel including a slightly above 30% State-owned shareholding.

It should be stressed that the ratings assigned to the various Enel bonds and commercial papers remain unchanged.

Microsoft Word - Standard & Poor's inglese.doc

PDF (0.05MB) Download

For the dissemination to the public and the storage of regulated information made available to the public, Enel S.p.A. has decided to use respectively the platforms “eMarket SDIR” and “eMarket Storage”, both available at the address and managed by Spafid Connect S.p.A. with registered office in Milan, at Foro Buonaparte, 10. The aforementioned services are authorized by Consob (resolution No.19878 of February 15th, 2017, related to the mechanism for the dissemination to the public of regulated information “eMarket SDIR” and resolution No. 19879 of February 15th, 2017, related to the mechanism for the central storage of regulated information “eMarket Storage”). 
From May 19th 2014 to June 30th 2015, Enel S.p.A. used the authorized mechanism for the storage of regulated information denominated “1Info”, available at the address, managed by Computershare S.p.A. with registered office in Milan and authorized by Consob with resolution No. 18852 of April 9th, 2014.