S&P: Enel still on watch

Standard & Poor's said it kept the A- long-term corporate credit and senior unsecured debt ratings on Enel SpA on CreditWatch, where they were placed with negative implications in December.

The agency also said it affirmed Enel's A-2 short-term corporate credit rating.

The ongoing CreditWatch placement follows the two-notch downgrade of the Republic of Italy on Jan. 13, S&P said.

The agency said it is evaluating whether Italy's creditworthiness fully constrains that of Enel.

Enel's excellent business risk profile could potentially be impaired by the deterioration of economic and political conditions in both its domestic Italian market and the Spanish market, to which it is exposed through its 92.06%-owned subsidiary Endesa SA, S&P said.

© 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.