S&P lifts NEK view to stable

S&P said it revised the outlook on Natsionalna Elektricheska Kompania EAD (NEK) to stable from negative.

The company's B long-term issuer credit rating also was affirmed.

The outlook revision stems from a view that NEK's profitability has stabilized and, as a result, the performance of its parent, Bulgarian Energy Holding, also has stabilized and will likely show an improvement in 2017 and 2018, S&P said.

The agency also said it believes recent regulatory developments were positive for NEK and the group, supporting sustainable credit metrics in the next several years.

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