https://www.engineeringnews.co.za
Business|Energy|Financial|Service|Operations
Business|Energy|Financial|Service|Operations
business|energy|financial|service|operations

Moody’s upgrades Enel’s long-term credit rating

25th January 2021

By: Donna Slater

Features Deputy Editor and Chief Photographer

     

Font size: - +

Credit rating company Moody’s Investors Service has upgraded the long-term rating of energy company Enel to Baa1, from the previous level of Baa2, with a stable outlook.

The ratings agency has also affirmed the Prime-2 short-term ratings of the subsidiaries Enel Finance International and Enel Finance America.

Moody’s affirmed that the upgrade of Enel’s rating reflects the realised progress in improving the Enel group’s business risk profile, as a result of continuing investments in networks and renewables, increased geographical diversification and focus on centralised financing.

Among the main key rating drivers for the upgrade, Moody’s focused on Enel’s low earnings volatility driven by large scale and geographical diversification and its stable earnings stemming from regulated networks and contracted generation, which account for 80% of the group’s earnings before interest, taxes, depreciation and amortisation.

Moody’s also focused on Enel’s solid financial profile, with funds from operations/net debt in excess of 20%.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:1.093 1.195s - 162pq - 2rq
Subscribe Now