Standard&Poor’s maintains EDP’s rating with a positive outlook

  • ECO News
  • 1 December 2016

The rating agency considers the energy company is enhancing its operating performance and hopes EDP’s “financial discipline” will contribute to the maintenance of the good results.

The rating agency Standard&Poor’s has kept EDP’s rating and outlook, because they consider the company’s operating performance is improving – the announcement was made by EDP this Wednesday, in the briefing sent to the CMVM (Portuguese Securities Market Commission).

“Standard & Poor’s Ratings Services (S&P) affirmed its ‘BB+’ long-term and ‘B’ short-term corporate credit ratings on EDP and EDP Finance BV”. “The outlook remains positive” states the company headed by António Mexia, in the briefing sent to the CMVM.

The confirmation of the rating given to EDP reflects that “the operating performance of the company continues to improve”, as the document clarifies.

To conclude: “S&P expects the contribution to cash-flows of EDP’s networks, renewables activities and long-term contracted asset-based operations to support their expectations of predictable earnings over the medium term. S&P also expects the company’s financial discipline and deleveraging actions to sustain its credit metrics improvement”.