Moody’s affirms IEnova

Moody’s Investors Service said it affirmed the Baa1 global scale and local currency ratings and the Aa1.mx Mexico national scale debt ratings of Infraestructura Energetica Nova SAB de CV (IEnova).

The outlook remains negative.

Moody’s said that the company’s recent investments and acquisitions will partially be funded with debt, increasing IEnova's total expected leverage.

“As the new projects come online and generate cash flows, we expect that FFO/debt ratio to be around 20% on a sustained basis,” the agency said in a news release.

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