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S&P puts Enel on watch
Standard & Poor's said it placed the A- long-term corporate credit rating on Enel SpA on CreditWatch with negative implications and affirmed its A-2 short-term corporate credit rating.
"The CreditWatch placement reflects our concerns about Enel's weak capital structure, delays in its asset disposal program, significant refinancing risk, tight liquidity position and ability to achieve credit metrics in line with its A- rating by year-end 2009," S&P analyst Ana Nogales said in a statement.
It also acknowledges harshening conditions in the financial markets, which can affect funding and future asset disposals, the agency said.
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