Enel’s sustainable innovation and the development of renewable energies and networks were among the particular areas of excellence that have led to Fitch’s decision to upgrade the long-term rating of our Group from BBB+ to A-, with a stable outlook. The announcement was made on 11 February with a statement from the agency that also confirmed the short-term rating of F2. 

Fitch reserved particular praise for Enel’s “global leadership in networks and renewables” and “its positioning at the forefront of innovation and sustainability.” In addition to the further acceleration in the renewables sector forecast in the company’s Strategic Plan 2019-2021, the rating agency stressed the importance of the Group’s expansion in strongly innovative sectors such as electric mobility, smart homes and demand response. The Enel Group has been focusing on these areas with a view to the energy transition. This doesn’t only mean a shift from fossil fuels to renewables but the beginning of a new energy paradigm characterised by the electrification of new areas (such as transport), the decentralisation of the networks and a greater attention to environmental and social sustainability. The other innovative fields mentioned were the digital energy services provided by Enel X, investments in network efficiency and digitalisation, and the automation of production plants and relationships with customers. 

The improved rating is also due to the growth expected in Latin America, good regulatory visibility, stable leverage, reduced exposure to risks deriving from market volatility, as well as the attainment of the economic and financial targets for the period 2015-2018. 

Furthermore, Enel’s extensive geographical diversification – the Group is present in 30 countries on five continents – is recognised as an additional guarantee of flexibility and resilience: potential financial problems in an individual country are not deemed capable of influencing the Group’s overall prospects.