Enel Credit Rating Cut by Moody’s on Falling Demand, Regulation
“Whilst Moody’s expects the company to continue to take measures to limit the impact on its financial profile, these are unlikely to be sufficient to counter the increased risks and pressures,” Moody’s said yesterday in a statement.
Enel, based in Rome, has invested in developing markets to offset weaker performance in its home economy and Spain, where the economic crisis has curbed power demand. Moody’s cited “heightened macroeconomic, political and regulatory challenges” for utilities in Spain and Italy.
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