Fitch changes eustream outlook to stable

Fitch Ratings said it revised the outlook on eustream, as to stable from negative. The agency also affirmed the company’s long-term issuer default rating and senior unsecured debt at BBB.

“The outlook revision mainly reflects the improved parent creditworthiness (SPP Infrastructure as; SSPI) supported by good business prospects and regulatory developments in the storage and gas distribution businesses, respectively. Furthermore, it takes into account the much-reduced risk of over-hedging and the piling up of cash on balance. This has been supported by the permanence of Russian gas flow, now incorporated in our eustream base scenario, although at the current depressed level,” the agency said in a press release.

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