Outlook: Stable
Action date: 06/29/2022
Rating action: Affirmed


Ethi Finance affirms the rating of Elecnor S.A. at "BBB-" maintaining the Stable outlook. Elecnor S.A. was founded in 1958 and it operates in infrastructure, energy and telecommunications activities, through a comprehensive management of any project through participation in the entire value chain. The company is the parent of the Elecnor group ( the group or Elenor hereinafter) and its shares are listed on the Spanish continuous market, on the Madrid and Bilbao stock exchanges. The group operates internationally, with presence in 55 countries, of which Spain, Brazil and the US stand out. At the end of 2021, the group presented a turnover of € with an EBITDA of ( 8,7% % of EBITDA Margin).


Date last rating: 06/29/2022
Date first rating: 10/01/2021