Spain's Enagas and Canadian pension fund Omers agreed to sell their holdings in Chile's GNL Quintero, which represent an 80% stake, to Belgian gas utility Fluxys and investment fund EIG, Enagas said on Monday. The Spanish gas pipeline operator which owns 45.4% in GNL Quintero, said it sold its stake for $661 million and said the sale was part of a wider strategic plan to "rotate" assets.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Enagas S.A.Global Credit Research - 15 Dec 2021Paris, December 15, 2021 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Enagas S.A. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review discussion held on 8 December 2021 in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. Since 1 January 2019, Moody's practice has been to issue a press release following each periodic review to announce its completion.This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future. Credit ratings and outlook/review status cannot be changed in a portfolio review and hence are not impacted by this announcement.
Spanish gas grid operator Enagas said on Tuesday its nine-month net profit fell 12% to 307 million euros ($357.29 million) after a change of regulations in 2020 forced it to charge lower fees in its home market. Profits from its foreign units, mainly Tallgrass Energy in the U.S. and Trans Adriatic Pipeline, rose 39% to 164 million euros, partly offsetting the cost of the new regulation. Enagas reiterated its full-year net profit target of 380 million euros set early this year as it took into account the regulatory changes imposed by the government.