General Announcement::IENOVA ANNOUNCES CHANGES ON FITCH RATING

Issuer & Securities

Issuer/ Manager
INFRAESTRUCTURA ENERGETICA NOVA, S.A.B. DE C.V.
Securities
INFRAESTRUS$540M4.875%N480114A - US456829AB67 - 8DTB
INFRAESTRUS$540M4.875%N480114R - USP56145AB40 - 8DUB
INFRAESTR US$300M3.75%N280114A - US456829AA84 - 8DWB
INFRAESTR US$300M3.75%N280114R - USP56145AA66 - 8DXB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
10-Jul-2019 06:28:59
Status
New
Announcement Sub Title
IENOVA ANNOUNCES CHANGES ON FITCH RATING
Announcement Reference
SG190710OTHRFPNT
Submitted By (Co./ Ind. Name)
RODRIGO CORTINA CORTINA
Designation
CORPORATE LEGAL DIRECTOR
Effective Date and Time of the event
09/07/2019 17:00:00
Description (Please provide a detailed description of the event in the box below)
FITCH PLACES IENOVA S RATING ON WATCH NEGATIVE

Mexico City, July 9, 2019 Infraestructura Energetica Nova, S.A.B. de C.V., (IEnova), a Mexican company committed to the long-term sustainable development of the country, announces today that Fitch has placed IEnova s rating on Watch Negative : BBB+ / Watch Negative (from BBB+ / Stable).
The modification to Watch Negative corresponds to the delays of Comisi n Federal de Electricidad (CFE) in issuing the proof of acceptance constancia de aceptaci n, that would allow the Sur de Texas Tuxpan Marine Pipeline to enter commercial operations, as well as the arbitration requests sent to certain developers of natural gas pipelines.
Fitch maintains IEnova s long-term issuer default rating and senior unsecured rating at BBB+. This rating reflects the company s strong competitive position, its adequate capital structure, stable and predictable cash flow generation supported by long-term agreements signed with investment grade counterparties, and no material commodity exposure. IEnova s ratings also reflect its solid position, access to liquidity, and the support of its majority shareholder, Sempra Energy (BBB+ / Stable).
IEnova reaffirms its commitment to maintain a healthy balance sheet, which will allow us to continue developing energy infrastructure that contributes to the growth of the country, while remaining disciplined in project execution, said Tania Ortiz Mena, CEO.

Attachments

Relevant Event New Credit Ratings Outlook Fitch 2019 ENG v5.pdf
Total size =115K