Rome, February 11th, 2019 – Fitch Ratings (“Fitch”), announced today that it has upgraded its long-term rating of Enel S.p.A. (“Enel” or the “Company”) to “A-” from its previous level of “BBB+”. The agency maintained its short-term rating for Enel at “F-2”. The outlook remains stable.
The rating agency recognised Enel’s strong track record of delivery on the Group’s challenging operational and financial objectives in the period between 2015 and 2018, its global leadership in networks and renewables, a large share of regulated and quasi-regulated activities and Enel's positioning at the forefront of innovation as well as sustainability in the utilities sector.
Among the main key rating drivers for the upgrade, Fitch focused on the following elements of Enel’s 2019-2021 Strategic Plan:
· further acceleration on renewables;
· focus on efficiency, sustainability and innovation;
· the EBITDA growth expected from the Enel Group’s operations in South America;
· the de-risking of the business profile to limit exposure to risks of market volatility;
· good regulatory visibility;
· stable financial leverage over the Plan period.
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.