S&P moves IEnova outlook to stable

S&P said it revised its outlook for Infraestructura Energetica Nova SAPI de CV (IEnova) to stable from negative and affirmed its BBB ratings on the company and its senior unsecured notes. The agency also revised the national scale outlook to positive from stable and affirmed the mxAA+ ratings.

The rating actions follow a similar change on IEnova’s parent Sempra Infrastructure Partners LP on Wednesday, the agency said.

S&P said it considers IEnova a core subsidiary since it proves nearly half of Sempra Infrastructure’s adjusted EBITDA.

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