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Standard & Poor’s Downgrades Enel SpA's Long-Term Rating; Affirms Short-Term Rating


Thursday, 11 Jul 2013 01:28pm EDT 

Enel SpA announced that rating agency Standard & Poor’s announced that it has revised its long-term rating for Enel SpA to BBB (from BBB+). The agency has also affirmed its short-term rating of A-2 for Enel. The outlook is stable. The downgrade follows the similar action recently adopted by Standard & Poor's on the Italian sovereign debt rating which reflects, among the others, the weaker economic and industry conditions in Italy. The stable outlook reflects the agency’s expectations that Enel will achieve and sustain economic and financial targets commensurate to the current rating level, as a result of its continued deleveraging efforts while maintaining a high contribution of operating income from lower risk regulated activities and geographic and operational diversification outside Europe. 

Company Quote

3.91
-0.0080 -0.20%
30 Oct 2014