Current Report No.: 11/2015
Current Report No.: 11/2015
Date of preparation: 27.04.2015
Short name of issuer: ENEA S.A.
Legal basis: Article 56 item 1(2) of the Act on Offerings - current and periodic information
Subject: Maintaining of the rating for ENEA S.A. by Fitch Ratings
Content of report:
In relation to the current report No 15/2011 dated 14 April 2011 concerning awarding ENEA S.A. (Company, ENEA) by Fitch Ratings (Agency) long-term ratings the Company's Board informs that in the announcement issued on 27 April 2015 the Agency maintained, as in 2012 - 2014, long-term ratings for the Company in the local and foreign currency on the level of "BBB" and a long-term national rating on the level of "A (pol)". The outlook of the ratings is stable.
As justified by the Agency, the ratings reflect a high share of the regulated distribution business in EBITDA, which contributes to cash flow predictability and stabilises cash flows at a time when another key segment, conventional power generation, is under pressure. The ratings incorporate a balance of risks between a fairly stable regulated distribution segment and a generation business with a challenging operating environment, with high concentration of fuels and locations of generating assets.
Additional information, including ratings definitions of the Agency and principles of their application, criteria and methods used, limitations and exclusions of responsibility and documents concerning policies and procedures used are available on the Agency's website www.fitchratings.com.
The content of the announcement of the Agency is attached by the Company to this current report.
