Fitch Lowers Acciona's Outlook to Negative on Heightened Execution Risks; Affirms Rating

11:18 PM EST, 12/23/2025 (MT Newswires) -- Fitch Ratings on Tuesday affirmed its long-term issuer default rating on Acciona Energia (ANE.MC) at BBB- and revised the outlook to negative from stable. The affirmation reflects the renewable energy company's recent operating underperformance, driven by lower electricity volumes, unfavourable wind conditions, and a weaker-than-expected price environment. Fitch also highlighted Acciona's planned asset disposals worth 3.2 billion euros between 2026 and 2028, which are expected to result in limited consolidated capacity growth for the company. The negative outlook points to elevated execution risk related to the timing of the planned disposals, as well as the rephasing of capital expenditure and the need for equity-like support for deleveraging.