Fitch revises Energo-Pro view to negative

Fitch Ratings said it revised Energo-Pro AS’ outlook to negative from stable while affirming the utilities company’s long-term issuer and senior unsecured ratings at BB-

“The negative outlook reflects higher than expected shareholder distribution and weaker than expected performance, leaving our forecast leverage above the negative rating sensitivity in 2020-2021. Lower-than-expected tariff increase for the next regulatory period from 2021 in Georgia, coupled with hydrology below the long-term average, would result in a downgrade,” Fitch said in a press release.

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