Moody's cuts Enel to A3, affirms Endessa

Moody's Investors Service said it downgraded the senior unsecured ratings of Enel SpA and its guaranteed subsidiaries, Enel Investment Holding BV and Enel Finance International NV, to A3 from A2.

The outlook is now negative. The short-term rating of Enel Finance International NV has been downgraded to Prime-2 from Prime-1.

This concludes the review for downgrade of Enel's ratings, as initiated by Moody's on June 20.

At the same time, Moody's said it affirmed the A3 ratings of Endesa SA's guaranteed subsidiaries, International Endesa BV and Endesa Capital, SA and changed the outlook to negative in line with that of the Enel group. The Prime-2 ratings of Endesa SA and International Endesa BV have also been affirmed.

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