Fitch assigns “BB+” rating with stable outlook to Enel Russia

Moscow, December 21st, 2015 – Fitch Ratings CIS Ltd agency has assigned PJSC Enel Russia a Long-term foreign currency Issuer Default Rating of “BB+” with Stable Outlook.

“Notwithstanding the current economic climate and the overall situation in the Russian power generation sector, the “BB+” rating with a stable outlook proves the solidity of the company’s operations and governance in this turbulent period” 

- General Manager of Enel Russia Carlo Palasciano Villamagna.

According to Fitch the rating is supported by Enel Russia’s strong credit metrics, steady generation of solid cash flows through capacity supply agreements (or DPMs), ability to generate positive free cash flow compared to other rated Russian utilities, and diversified operations across number of plants, geography, fuel mix and customer base. Fitch experts note one of the highest diversity of the company’s fuel mix among Russian peers. At the same time, the rating incorporates Enel Russia’s exposure to FX risk, weak Russian power market fundamentals, and high regulatory risk.

Fitch assigns “BB+” rating with stable outlook to Enel Russia

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