MUMBAI (Thomson Financial) - Fitch Ratings said it revised Slovakia-based
power generator Slovenske Elektrarne A.S.'s outlook to positive from stable
reflecting improved funds from operations, EBITDA and continued cost savings
with the successful de-leveraging of its balance sheet.
Slovenske Elektrarne's ratings reflect the involvement of Enel SpA., rated
'A-' with a negative outlook, in the Slovak company's operational and financial
restructuring, which has resulted in efficiency improvements, Fitch said.
The ratings agency also affirmed the company's long-term foreign currency
issuer default rating at 'BBB-' and foreign currency senior unsecured rating for
Slovenske Elektrarne's 195 million euro senior notes due 2011 at 'BBB-'.
Fitch views Slovenske Elektrarne's credit metrics as strong for the rating,
given the company's business profile.
TFN.newsdesk@thomsonreuters.com
ndi/ssa
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