S&P changes view for Natsionalna Elektricheska to negative

S&P said it changed its view for Natsionalna Elektricheska Kompania EAD to negative from stable.

The company relies on its parent Bulgarian Energy Holding EAD for ongoing and extraordinary support and Bulgarian Energy is increasing its investments in key projects, S&P said.

“The outlook revision reflects our view that BEH’s ability to provide extraordinary and ongoing support to its subsidiary NEK could deteriorate in the coming years. Given high leverage at the NEK level, the BEH group’s credit quality and group support remain the key drivers of the rating on NEK,” said S&P in a press release.

The agency affirmed the company’s B+ rating.

© 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.