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Standard & Poor ´s revises REN´s outlook to stable and affirms ratings

 

Standard & Poor´s Ratings has revised the Outlook on REN's Long-term Issuer Default Rating (IDR) to Stable from Negative and keeps the rating of BB+/B,  one level  above Portugal as a country.

To Gonçalo Morais Soares, REN´s Chief Financial officer, this review reflects "the recognition of REN´s solid financial performance, sustained in very strict management, in a stable business model and a corporate structure that has allowed the increase of the company financing options ".

Last week the credit rating agency Fitch also improved REN´s Outlook from negative to stable. With this review, REN continues as the Portuguese company with the highest rating in all three major rating agencies worldwide (Fitch, Moody's and Standard and Poor's).