S&P affirms Enel at A-

Standard & Poor's said it affirmed its A- long-term corporate credit and senior unsecured debt ratings on Enel SpA and its financial vehicles Enel Finance International NV and Enel Investment Holding BV, as well as the A-2 short-term rating.

The outlook is negative.

The affirmation of the long-term corporate credit rating on Enel reflects S&P's revised assessment of its stand-alone credit profile to a- from bbb+, the agency said.

S&P no longer factors into the rating a one-notch uplift for potential extraordinary support from Enel's 31% shareholder, the Republic of Italy. This is a result of the recent downgrade of the Republic of Italy to A/A-1 from A+/A-1+ and S&P's revised view on the likelihood of extraordinary government support to "moderate" from "moderately high," in line with the agency's criteria for government-related entities, the agency said in a news release.

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