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S&P: Endesa still on watch
Standard & Poor's said it kept the A- long-term corporate credit, A- senior unsecured debt and BBB preferred stock ratings on Endesa SA on CreditWatch, where they were placed with negative implications in December.
The agency also said it affirmed its A-2 short-term corporate credit rating on the company.
The ongoing CreditWatch placement on Endesa mirrors that on its Italian parent, Enel SpA, S&P said.
The agency said it considers Endesa to be a core entity within the Enel group, as it contributes more than 40% of the group's consolidated EBITDA.
Consequently, the ratings are linked to those on Enel, S&P said.
The ratings on Endesa also are capped by Enel's ratings, the agency said.
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