July 2, 2021
Moody's has upgraded Enel Américas, the Latin American division of Italian energy company Enel, by one notch to Baa2 as the Chile-based subsidiary plans to make $7.8 billion in investments in three years without increasing leverage.
Enel Américas will likely keep net debt below two times EBITDA as more development projects come online and improve cash from operations to more than 35% of net debt from 30%, Moody's said in a report on Thursday.
"The decline of the debt at the holding company level
Rating agency gives a Baa2 to the Italian energy company's Chile-based subsidiary