Creditreform Rating (CRA) has confirmed the unsolicited corporate issuer rating of ENEL S.p.A. (Enel or the Company) at BBB+, and changed the outlook from stable to negative. This change is based on an expected economic deterioration due to the negative consequences of the COVID-19 pandemic or at least a postponement of the economic recovery to pre-crisis levels in Enel's central markets. We see this in particular in Italy due to renewed lockdown measures, which were taken to counteract the worsening pandemic. The rating at BBB+ attests ENEL S.p.A a highly satisfactory level of creditworthiness, mainly due to the nevertheless strong position of the Company in its relevant geographical markets, as well as its diversified, systemic-relevant and partly sustainable, innovative business model. The Company´s solid financial figures and good access to the capital market also provide a good basis for coping with potential challenges.
Creditreform Rating has carried out an unsolicited rating of Ente nazionale per l'energia elettrica (ENEL) S.p.A. The rating has been set to BBB+ with stable outlook.