S&P lifts Iberdrola view to positive

Standard & Poor’s said it revised the outlook to positive from stable on Iberdrola SA and its subsidiary, Iberdrola USA.

The agency also said it affirmed the BBB long-term and A-2 short-term corporate credit ratings on both companies.

S&P also said it affirmed the mxAA+ long-term CaVal (Mexico) national scale rating on the debt issued by Iberdrola Finanzas SAU.

The outlook revision reflects the group’s improving risk profile, in light of the increase in regulated or quasi-regulated activities in favorable jurisdictions, abating risks in the domestic market and financial discipline that has led to continuous debt reduction, the agency said.

These favorable trends have improved the visibility on Iberdrola’s earnings, S&P said, and stronger, sustainable credit metrics are expected in 2015.

The ratings consider the group’s ability to capture growth opportunities in key markets outside Spain and a perception of above-average generation assets, the agency said.

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