MUMBAI (Thomson Financial) - Fitch Ratings said it has changed Edison Spa's
outlook to positive from stable, citing Edison's improved financial and business
profile in 2007 and sustainable business plan projections that should support
growth while preserving strong credit metrics.
Fitch affirmed Edison's 'BBB+' long-term issuer default rating (IDR), 'F2'
short-term IDR, and 'BBB+' senior unsecured debt rating.
With its improved business profile and the anticipated further enhancement
of key financial ratios, Edison is strongly positioned among its peer group and
has the potential to move up the rating scale, Fitch said.
A one-notch upgrade will be considered if Edison's operating performance in
2008 confirms expectations and if the visibility of its strategy, financial
performance and corporate governance improves, the rating agency said.
TFN.newsdesk@thomsonreuters.com
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