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| Name | Symbol | Market | Type |
|---|---|---|---|
| Endesa SA (PK) | USOTC:ELEZY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.16 | -1.62% | 9.70 | 9.70 | 9.72 | 9.73 | 9.49 | 9.5994 | 5,134 | 18:18:20 |
From Jul 2019 to Jul 2024
Enel SpA (ENEL.MI) isn't concerned by the possibility of its credit rating being downgraded by one notch, as the effects would be "marginal," said Luigi Ferraris, chief financial officer of Europe's most indebted utility, Thursday.
Should Enel's rating drop to BBB+ from A- then effects on the cost of debt are estimated at between 15 and 20 basis points, said the CFO, at a presentation in Rome of the company's new 2012-2016 growth plan.
Italy's former monopoly became Europe's most indebted utility after taking over Spain's Endesa SA (ELE.MC) in 2007.
The debt costs of such a downgrade are calculated at about EUR50 million, said Chief Executive Fulvio Conti, indicating that is a totally manageable figure.
The company's new dividend payout policy of 40% of ordinary net profit, which excludes special items, is "decent," said CEO Conti. He added it represents a dividend yield of between 4% and 5%.
-By Liam Moloney, Dow Jones Newswires; +39 06 6976 6924; liam.moloney@dowjones.com
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1 Month Endesa (PK) Chart |
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