Fitch affirms Enel Americas

Fitch Ratings said it affirmed Enel Americas SA's long-term foreign and local currency issuer default ratings at BBB+ and long-term national scale rating at AA(cl).

In addition, the agency also affirmed Enel America's short-term national scale rating at N1+(cl).

Fitch said the affirmations reflect Enel Americas completed acquisition of 93.3% of Eletropaulo Metropolitana Eletricidade de Sao Paulo SA’s (BB+/stable) total capital.

The acquisition was financed through a R$9.3 billion bridge loan, comprising R$4 billion by Enel Brasil with a term of nine months and R$5.3 billion by Enel Sudeste with a term of 18 months, guaranteed by Enel Brasil and Enel.

“With the acquisition of Eletropaulo, Enel Americas' credit metrics continue to remain strong,” the agency said in a news release.

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