Report
EUR 162.60 For Business Accounts Only

Enel Americas S.A.: Enel Americas' potential acquisition of Eletropaulo would likely increase debt, a credit negative

The acquisition is likely to increase consolidated leverage and a higher share of cash flow generation from lower-rated countries.
Underlyings
Eletropaulo Metropolitana Eletricidade de Sao Paulo SA

Eletropaulo - Metropolitana Eletricidade de Sao Paulo is engaged in the generation, transmission, and distribution of electrical energy for part of the State of Sao Paulo, following the terms of a concession granted by the National Agency for Electric Energy (ANEEL). Co.'s service area covers 24 municipalities in the state of Sao Paulo, including the metropolitan area of the city of Sao Paulo. As of Dec 31 2007, Co. distributed 39,931 GWh of energy to a total of approximately 5,650,000 consumer units.

Energoinstal SA

Energoinstal SA is a Poland-based manufacturer of power boilers. Its offer includes power steam boilers, high-duty power water boilers, steam biofuel boilers, boilers and auxiliary devices for waste incinerating plants, boiler houses, supporting structures of boilers and industrial objects, oil and gas burners, gas and oil pressure reducing-metering stations, finned tubes, environmental protection installations and equipment, central heating systems, processing heat installation, water and sewage systems, ventilation and air-conditioning systems, thermal insulations, energetic pipelines and anticorrosion painting, as well as installations made of precious steels for the food industry. The Company also offers assembly and maintenance services. Energoinstal SA is a parent company of the Capital Group that comprises Energoinstal Sp z o o, Instal Bielsko Sp z o o, Instal Development Sp z o o, among others. On November 15, 2013, WAM Sp z o o acquired 61.80% stake in the Company.

Provider
Moody's Investors Service
Moody's Investors Service

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