Standard & Poor's downgrades Red Eléctrica's rating by two notches
The ratings agency Standard & Poor's has downgraded the long-term and short-term ratings of Red Eléctrica Corporación, S.A. and Red Eléctrica de España, S.A.U., two notches from 'A+ and A-1' to 'A- and A-2', maintaining a negative outlook.
According to the agency, this reduction is as a result of the recent downgrading of Spanish sovereign debt from 'A to BBB+' with a negative outlook. The rating of Red Eléctrica continues to remain one notch above that of Spain.
Standard & Poor's rates the risk profile of the company as "strong" and maintains its liquidity position as "adequate".