MUMBAI (Thomson Financial) - Fitch Ratings revised the outlook Acea Spa's
'A+' long-term issuer default rating (IDR) to negative from stable due to the
company's continuing credit metrics deterioration from debt funded acquisitions
and equity capital injections in water companies over the last 18 months.
Fitch expects Acea's net debt will increase while estimated FFO/net debt
will remain below 15 pct for the next 2-3 years.
Acea's 'A+' rating reflects its stable cash flows from its core business and
a business plan that should sustain the company's earnings growth over the next
four years.
In addition, Fitch affirmed the company's senior unsecured rating at 'AA-'
and short-term IDR at 'F1'.
TFN.newsdesk@thomson.com
ach/ran
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