Rome, May 5th, 2011 Moodys confirmed late yesterday evening its A2 long-term and Prime-1 short-term corporate credit ratings on Enel SpA (hereinafter Enel or the Company), completing the review for a possible downgrade that was initiated on December 16th, 2010. The outlook is stable.
Moodys opinion is based on the steady progress on the tariff deficit securitization recorded in Spain since early 2011 and the relevant favorable effects for the financial receivables of the subsidiary Endesa as well as solid core operating results of the Enel Group in 2010.
Moodys believes that the stabilization of Enels ratings can be fostered by the Groups ability to achieve its financial targets announced to the market on the occasion of the presentation of the 2011-2015 strategic plan, through a controlled capex programme and growth in operating and free cash flow enabling further debt reduction.
Enel S.p.A. provides for the dissemination to the public of regulated information by using SDIR NIS, managed by BIt Market Services, a London Stock Exchange Group's company, with registered office at Milan, Piazza degli Affari, 6. For the storage of regulated information made available to the public, Enel S.p.A. has adhered, as from July 1st, 2015 to the authorized mechanism denominated “NIS-Storage”, available at the address www.emarketstorage.com, managed by the above mentioned BIt Market Services S.p.A. and authorized by CONSOB with the resolution No. 19067 of November 19th, 2014. From May 19th 2014 to June 30th 2015 Enel S.p.A. used the authorized mechanism for the storage of regulated information denominated “1Info”, available at the address www.1info.it, managed by Computershare S.p.A. with registered office in Milan and authorized by CONSOB with resolution No. 18852 of April 9th, 2014