REN Redes Energeticas Nacionais : STANDARD AND POOR’S RAISES REN’S RATING
October 18, 2018 at 04:48 am EDT
Share
18.10.2018
The North American financial rating agency Standard and Poor's (S&P) increased the rating of REN - Redes Energéticas Nacionais from BBB-/A-3 to BBB/A-2, with a stable outlook.
The analysis of the financial rating agency acknowledges REN's good performance reflected in the company's conservative financial policy, also pointing out the increased diversification of the company's activity following the recent acquisitions of Portgás in Portugal and the 42.5% stake in the Chilean Electrogas.
According to S&P, this rating highlights the resilience of REN's liquidity in the stress tests. The agency notes that the long-term rating for REN may come to exceed Portugal's by up to one notch.
In its analysis note, S&P states that REN continues to have an excellent risk profile in its business, reflecting a position of natural monopoly as power and gas transmission operator in Portugal, supported by the visibility that the agency acknowledges having over REN's revenues, given they are almost entirely regulated and not exposed to market or volume risk.
Attachments
Original document
Permalink
Disclaimer
REN - Redes Energéticas Nacionais SGPS SA published this content on 18 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 18 October 2018 08:47:07 UTC
REN - Redes Energéticas Nacionais, SGPS, S.A. specializes in the operation and concession management of the Portuguese electricity transportation network. Net sales break down by activity sector as follows:
- electricity (63.7%): transportation of electricity from producers to end distributors and consumers, management of the electricity transportation network (connecting user installations to the network, maintenance of the network, etc.). At the end of 2022, the network has a total of 9,424 Km;
- gas (34.8%): transportation of natural gas from producers to end distributors and industrial consumers, underground storage of natural gas, receiving, storage, and regasification of liquid natural gas (LNG), infrastructure construction and maintenance services, etc.;
- telecommunications (1.3%);
- other (0.2%).
REN - REDES ENERGÉTICAS NACIONAIS, SGPS, S.A. 
