Moody's improves credit rating outlook on Italy's Enel
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 03 2024
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Should l Buy ?
Source: reuters
- Moody's Outlook for Enel: Moody's raised the outlook for Italy's Enel credit rating to "stable" from "negative" due to positive financial performance in 2023 and Q1 of this year.
- Enel's Credit Ratings: Moody's confirmed Enel's long-term credit rating at "Baa1" and maintained the short-term credit rating at "P-2".
- Financial Debt of Enel: Enel's net financial debt increased slightly to 60.7 billion euros by the end of March compared to 60.2 billion euros at the end of 2023.
- Asset Disposals: Enel aims to complete most of its planned 6.3 billion euros' worth of asset disposals by June, as stated by the group's chief financial officer.
- Endesa's Credit Rating: Moody's also upgraded the credit rating of Enel's Spanish unit Endesa to "stable" from "negative".
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
