Fitch affirms Enel, Endesa

Fitch Ratings said it affirmed Enel SpA's and Endesa SA's long-term issuer default ratings at A-, senior unsecured ratings at A and short-term ratings at F2.

Enel Finance International NV's, Enel Investment Holding BV's and International Endesa BV's short-term ratings also are affirmed at F2.

The €1.5 billion perpetual preferred capital securities issued by Endesa Capital Finance, LLC and guaranteed by Endesa also are affirmed at BBB.

The outlook is stable.

The ratings reflect the company's solid business profile, underpinned by a well diversified geographical presence, balanced generation portfolio and good quality revenue mix from regulated and unregulated activities, Fitch said.

The agency said the ratings are constrained by the challenging operating environment and the sovereign debt crisis in Italy and Spain, Enel's main markets.

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