Moody's improves credit rating outlook on Italy's Enel

MILAN (Reuters) - Moody's investors service has lifted the outlook for the credit rating of Italy's Enel to "stable" from "negative" thanks to the utility's positive financial performance in 2023 and in the first quarter of this year, Enel said on Monday.

At the same time Moody's confirmed the long-term credit rating of Enel at "Baa1" and maintained the short-term credit rating at "P-2".

Enel's net financial debt rose slightly to 60.7 billion euros at the end of March, from 60.2 billion euros at the end of 2023.

The group's chief financial officer said last month he was confident the company would complete the bulk of a planned 6.3 billion euros' worth of asset disposals by June.

In a separate statement, Moody's said it had also lifted to "stable" from "negative" the credit rating of Enel's Spanish unit Endesa.

(Reporting by Francesca Landini; Editing by Hugh Lawson)