MEXICO CITY: Infraestructura Energética Nova (IEnova), a Mexican company committed with the long-term sustainable development of the country, announced that Moody’s affirmed IEnova’s global scale corporate credit rating of Baa1 and the Mexican National Scale corporate rating of Aa1.mx, and revised its outlook from stable to negative.[the_ad id=”31605″]Moody’s affirms IEnova’s credit ratings due to its stable cash-flows with dollar-denominated, long-term contracts, its solid balance sheet capacity to meet its debt obligations and fund additional investments, as well as its growing diversification of asset and customer base.
The change in outlook follows the recent actions on the ratings and outlooks of the Comisión Federal de Electricidad “CFE” (Baa1/Aa1.mx negative), Petróleos Mexicanos “Pemex” (Baa3/Aa3.mx negative) and Centro Nacional de Control del Gas Natural “CENAGAS” (Baa2/Aa2.mx negative).
“IEnova confirms its commitment to maintain a healthy balance sheet, which allows the continued development of energy infrastructure that contributes to the growth of the country, while remaining disciplined in the execution of the projects”, said Tania Ortiz Mena, CEO.