Fitch upgrades Enel, Endesa

Fitch Ratings said it upgraded Enel SpA's and subsidiary Endesa SA's long-term issuer default ratings to A- from BBB+.

The outlook is stable.

The upgrade mainly reflects the company's strong track record of delivery on its objectives, global leadership in networks and renewables and large share of regulated and quasi-regulated activities, Fitch said.

The ratings also consider the risks embedded in merchant activities, strong focus on growth and shareholder remuneration, the agency said, and some risks arising from the countries in which the group operates.

S&P said it expects Enel's management to continue to pursue moderate leverage, ruling out large debt-funded acquisitions.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.