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Fitch affirms Enagas at A-; outlook stable-DJ

Friday, 20 Dec 2013 10:23am EST 

Enagas SA:Fitch Ratings has affirmed Enagas SA's long-term Issuer Default Rating (IDR) at A- and a short-term IDR at F2-DJ.The outlook on the long-term IDR is stable.The agency has also assigned Enagas SA a senior unsecured rating of A-.Enagas's standalone credit profile is commensurate with a A IDR, but the rating is constrained at A-, two notches above the Spanish sovereign rating (BBB/stable).This is in line with Fitch's approach for rating eurozone issuers that generate the majority of their earnings domestically and with a minimal, increasing in the case of Enagas, geographical diversification. 

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