S&P turns Energo-Pro view to stable

S&P said it revised the outlook for Energo-Pro as to stable from negative after the company reported the commissioning of Turkish hydropower projects.

“Successful commissioning of two large hydropower plants in Turkey will restore rating headroom for the group from 2021. The outlook revision is based on the forecast improvement in the group's consolidated financial position from 2021, supported by additional EBITDA from the Turkish projects of about €70 million-€80 million annually, based on average historical hydro conditions,” S&P said in a press release.

The agency also affirmed the B+ ratings on Energo-Pro and its senior unsecured debt.

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