DBRS confirms Enwin Utilities

DBRS said it confirmed the issuer rating of Enwin Utilities Ltd. (formerly Enwin Powerlines Ltd.) at A (low) with a stable trend.

The confirmation reflects Enwin's strong financial profile and stable and low business risk profile, stemming from its stable regulated electricity distribution operations and a good record of operational efficiency, according to the agency.

Enwin's rating has been supported by its strong financial profile, reflecting a low-leverage balance sheet and very strong interest coverage and cash flow ratios for the current rating category, the agency said.

Enwin also has significant exposure to large industrial customers, particularly in the auto sector, the agency noted.

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