Fitch rates Engie notes BBB+

Fitch Ratings said it published ratings on Engie SA, including a long-term foreign-currency issuer default rating of A.

Fitch also said it assigned a senior unsecured rating of A to Engie, along with a short-term issuer default rating and commercial-paper program rating of F1 and a BBB+ rating to its subordinated notes.

Fitch also said assigned a long-term issuer default rating of A to Electrabel SA and Engie Invest International SA, along with a senior unsecured rating of A on Engie Alliance GIE.

The outlooks are stable.

The ratings reflect Engie's scale and diversification, which have helped to limit the impact of commodity price weakness, Fitch said.

The ratings are based on Engie's consolidated profile, reflecting its conservative financial policy including target net debt-to-EBITDA ratio of up to 2.5x, the agency said.

Engie is the world's leading independent power producer with generation capacity of 101 gigawatts, of which more than 85% is low carbon dioxide emitting, Fitch said.

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