Moody's alters Enagas view to negative

Moody's Investors Service said it changed to negative from stable the outlook of Enagas SA and Enagas Transporte, SA At the same time, Moody's also affirmed the Baa2 long-term issuer rating and the Baa2 senior unsecured rating for Enagas Transporte.

The agency said it sees a modest decline in Energas’ credit metrics after the downward revision in dividends from associates and cash flow from the core business over 2022-2024. Moody’s estimates funds from operations/net debt will probably decline to the mid-teens in percentage terms over 2022.

“In particular, the negative outlook reflects the increased risk that key financial metrics will fall short of guidance for the current rating level,” Moody’s said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.