S&P lowers Endesa outlook to negative from stable

Endesa

Banco Sabadell | S&P has lowered its outlook for Endesa from stable to negative, in line with the action it took in the case of ENEL (holds 70% of the Spanish utility). However it has maintained the rating at BBB+.

Valuation: The news has a negative slant, although the impact is limited. The planned investments, along with the increase in debt, are behind this revision.

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