Fitch revises REN view to negative

Fitch Ratings said it revised the outlook for REN-Redes Energeticas Nacionais, SGPS, SA to negative from stable and affirmed the company’s BBB rating.

“The outlook revision reflects our expectations of marginally worse forecasts up to 2024 including slightly higher capex and tariff deviations stock, which erode the already exhausted leverage headroom following the acquisition of Empresa de Transmision Electrica Transemel SA (Transemel) in August 2019,” Fitch said in a press release.

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