Standard and Poor’s (S&P) reaffirmed the BBB- rating of REN – Redes Energéticas Nacionais

Standard and Poor’s (S&P) reaffirmed the BBB- rating of REN – Redes Energéticas Nacionais

LISBON, 02-Nov-2017 — /EuropaWire/ — The North American financial rating agency Standard and Poor’s (S&P) reaffirmed the BBB- rating given to REN – Redes Energéticas Nacionais, also maintaining the “positive” perspective, thus demonstrating its trust in the company’s future.

The financial rating agency’s analysis acknowledges REN’s good performance in a particularly challenging year, which included the acquisition of 42.5% of the capital of the Chilean company, Electrogas, responsible for the management of 165.6 km of reversible gas pipelines in Chile, and the acquisition of 100% of EDP Gas, the second largest natural gas distributor in Portugal, with a network of 4,460 km and 345,637 connection points.

With this evaluation, REN continues to be the Portuguese company with the best aggregate evaluation from the three largest global rating agencies (Fitch, Moody’s and Standard & Poor’s). REN’s rating is at the same level as that of the Portuguese Republic, after the rise from BB+ to BBB- given to Portugal by S&P last month.

SOURCE: REN

 

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