On Sept. 23, 2025, S&P Global Ratings placed its 'BBB' long-term issuer credit and 'BBB-' issue-level ratings on Sempra Infrastructure Partners L.P. (SI) on CreditWatch with negative implications after KKR announced the acquisition of a 45% interest in SI. Consequently, on Sept. 24, 2025, we placed our 'BBB' long-term issuer credit and issue-level ratings on SI's subsidiary Infraestructura Energetica Nova S.A.P.I. de C.V. (IEnova) on CreditWatch negative. The CreditWatch negative placement reflects a potential downgrade of IEnova by at least one notch if were to take the same rating action on SI, given that we view IEnova as a core subsidiary. higher leverage at SI and could ultimately affect our issuer credit rating on IEnova, which we consider a core
