Fitch affirms innogy

Fitch Ratings said it affirmed innogy SE's long-term issuer default rating at BBB+ and short-term issuer default rating at F2.

The agency also affirmed the A- senior unsecured ratings of innogy and innogy Finance BV.

The ratings were removed from rating watch negative.

The outlook is stable.

Fitch said it aligned innogy's ratings with those of E.ON SE (BBB+/stable) due to the planned acquisition of innogy by E.ON through an exchange of assets and participations with RWE AG (BBB/rating watch evolving), which the agency expects to be finalized in late 2019.

“Overall we evaluate innogy's standalone credit profile as strong, broadly in line with some other utilities peers such as E.ON, Iberdrola, SA (BBB+/stable) and Enel SpA (BBB+/stable),” the agency said in a news release.

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