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S&P raises REN´s outlook to positive

 

The Standard & Poor's rating agency announced today that it had raised the outlook of REN - Redes Energéticas Nacionais from stable to positive and maintained its rating of BB+/B, one grade higher than that of the Portuguese Republic.

Gonçalo Morais Soares, REN's Financial Director, said the upgrade of REN's rating outlook with S&P from stable to positive "is the result of a funding strategy that has borne fruit and involves maintaining a sound liquidity position, discipline in terms of costs and their sustainability. It is a positive sign that opens up the possibility of REN getting back its investment grade rating with S&P, as it has already done with Moody’s and Fitch”.

Thanks to this assessment, REN is still the Portuguese company with the best combined rating of the world's three main rating agencies (Fitch, Moody's and Standard and Poor's).