S&P alters HEP view to positive

S&P said it revised Hrvatska Elektroprivreda dd’s outlook to positive from stable and affirmed the BB+ ratings on the company and its senior unsecured notes.

“We base the outlook revision on HEP’s solid financial performance and points to a potential decline in cash flow volatility captured in the rating,” S&P said in a press release.

The outlook reflects the likelihood of an upgrade if HEP continues to post funds from operations (FFO) to debt above 45% and debt to EBITDA below 3x, and demonstrate prudent risk management and sufficient resilience to both the pandemic-related economic downturn and the expected increase in purchase prices for power and gas in 2021-2022, the agency 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.