...February 16, 2022 PARIS (S&P Global Ratings) Feb. 16, 2022--S&P Global Ratings today said that French utility Engie S.A.'s (###+/Stable/A-2) better-than-expected 2021 results reflect the strong rebound of its activities, notably supported by a more favorable power price environment, higher-than-anticipated nuclear power generation, and the continued delivery of the company's strategic and financial plans. We expect credit metrics to return fully in line with the requirements for the '###+' rating, specifically funds from operations (FFO) to net debt well above 18% through 2023. In 2021, Engie executed for 9.2 billion a large part of its disposal program, the largest share coming from the 6.8 billion agreed sale of its asset-light services Client Solutions platform Equans to Bouygues (closing expected in second-half 2022). The group reiterated its strategic focus over 2022-2024, in continuity with the 2021-2023 guidelines, around renewable growth, networks, and energy solutions. EBITDA growth...
