ENEL: MOODY'S REVIEWS LONG-TERM RATING "BAA2" AND CONFIRMS SHORT-TERM RATING AT "PRIME-2". OUTLOOK IS NEGATIVE

Rome, November 6th, 2012 – Moody’s rating agency has announced that it has reviewed its long-term rating for Enel S.p.A. (“Enel” or the “Company”) to “Baa2” (from the previous “Baa1”). The agency also said that it has maintained its short-term rating for Enel at “Prime-2”. The outlook is negative.

According to Moody’s, the adjustment of Enel's rating mainly reflects the macroeconomic, political and regulatory challenges that utilities are facing in Italy and Spain, partly associated with the ratings assigned to the sovereign debt of Spain (“Baa3”, with a negative outlook) and Italy (“Baa2”, with a negative outlook). The agency said that the change in Enel’s rating also reflects the narrowing of margins in the power generation sector, mainly in Italy, and changes in the electricity sector’s regulatory and fiscal framework that were announced in Spain.

On a positive note, Moody’s noted that the Company has extended the maturity of its debt and increased its liquidity, which now covers its maturing obligations through all of 2014 and even beyond. This gives Enel greater flexibility in accessing financing sources, even in today's volatile market environment.

 

Enel press releases have all now smartphone and tablet versions.
Download Enel Mobile App from  Apple Store, Google Play and BlackBerry App World

Microsoft Word - Rating Moodys inglese 6.11.2012

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 www.emarketstorage.com 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 www.1info.it, managed by Computershare S.p.A. with registered office in Milan and authorized by Consob with resolution No. 18852 of April 9th, 2014.