Fitch rates Enerjisa Elektrik Dagitim AA(tur)

Fitch Ratings said it assigned a national long-term rating of AA(tur) to Enerjisa Elektrik Dagitim AS with a stable outlook.

The rating is supported by the regulated nature of a large part of the company's operations, favorable market reforms, predictable operating cash flows and experienced shareholders, Fitch said.

About a quarter of Enerjisa Elektrik Dagitim's earnings come from the retail and supply division, supported by the sector's transition to a liberalized market, the agency said.

The remaining share is generated by regulated distribution activities, Fitch said.

The company’s network investments are reimbursed quicker than its European peers and on favorable returns, the agency said.

Uncertainty arises over the longer term as the company does not own its infrastructure assets, Fitch said, and its investments in the grid are treated as financial assets, recoverable in 10 years.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.