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Standard & Poor's Affirms Enel's Long-term 'A-' and Short-term 'A-2' Credit Ratings, Outlook Remains Stable - Stand-alone credit profile changed due to delays in securitization of Spanish tariff deficit
Standard & Poor's Affirms Enel's Long-term 'A-' and Short-term 'A-2' Credit Ratings, Outlook Remains Stable

 

NewswireToday - /newswire/ - Rome, Italy, 2010/12/10 - Stand-alone credit profile changed due to delays in securitization of Spanish tariff deficit. IT0003128367

   
 
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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.

For more information visit enel.com/.

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Written by / Agency / Source: Enel Group

 
 

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Standard & Poor's Affirms Enel's Long-term 'A-' and Short-term 'A-2' Credit Ratings, Outlook Remains Stable

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Enel Green Power |
Publisher Contact: Enel Group - Enel.com 
+39 06 83055699 ufficiostampa[.]enel.com
 
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