Fitch: Iberdrola unchanged

Fitch Ratings said it expects Iberdrola, SA's announced acquisition of Elektro Electricidade E Servicos, SA (Elektro) in Brazil to be credit neutral.

The total consideration amounts to more than €2.1 billion, including about €367 million of debt at Elektro, the agency said.

In view of the relatively small transaction amount that corresponds to Iberdrola, Fitch said it does not expect the acquisition to have a material credit impact on the company.

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