Ratings agency S&P cut its outlook on French state-controlled utility EDF to ‘negative’ from ‘stable’, citing increased pressure on the energy group following a downward revision to its core earnings target for 2018. S&P’s concerns were that EDF’s remedial actions would not lead to a lasting debt reduction, with the adjusted debt forecast possibly moving back toward previous levels by 2019. EDF said last week that future nuclear reactor maintenance outages could be longer than expected and that these could weigh on its 2018 core earnings.
Reuters 20th Nov 2017 read more »