Fitch takes IEnova rating off watch

Fitch Ratings said the ratings for Infraestructura Energetica Nova, SAB de CV (IEnova) were removed from ratings watch negative.

Fitch affirmed the BBB+ ratings for the entity and its senior unsecured notes due 2028 and 2048.

“The rating actions reflect Fitch’s view that IEnova and Comision Federal de Electricidad (CFE, BBB/Stable) resolved the pipeline contracts dispute earlier than anticipated and the amended terms have neutral impact on IEnova’s cash flow,” said Fitch in a press release.

The outlook is stable.

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