MILAN (Standard&Poor's) Oct. 14, 2014--Standard&Poor's Ratings Services said today that its ratings and outlooks on Spanish vertically integrated gas and electricity utility Gas Natural SDG S.A. (BBB/Stable/A-2) and its subsidiaries remain unchanged following the announcement of the group's acquisition of Chile-based Compania General de Electricidad S.A. (CGE; not rated). We think the announced acquisition supports our assessment of Gas Natural's business risk profile as "strong." The deal would enhance the group's geographic diversification and underpins the balance of Gas Natural's business mix between regulated and unregulated businesses. In our view, the aim to buy CGE is in line with the group's growth strategy in Latin America, where it has a footprint in Mexico, Colombia, and Brazil.
