STOCKHOLM (S&P Global Ratings) Feb. 6, 2020--S&P Global Ratings today said that Vattenfall AB's (BBB+/Stable/A-2) performance was ahead of our expectations, based upon preliminary figures, implying increased rating headroom at year-end 2019. Preliminary funds from operations (FFO) to debt stood at about 27%, which is just above the upside rating trigger. However, we anticipate credit metrics will weaken slightly over 2020-2021 due to lower achieved power prices and revenue from electricity distribution than 2019 and the acceleration of investments, which will lead to increased debt. Vattenfall managed to increase reported FFO to Swedish krona (SEK) 35 billion, up 50% from SEK23.3 billion in 2018. Reported EBITDA reached SEK42.4 billion, up 24% from 34.3 in 2018. The main reason for the
