S&P Global Ratings revised CGNI’s Outlook
5/5/2026
Credit rating agency S&P Global Ratings has revised Czech Gas Networks Investments (CGNI) Outlook to negative reflecting action on majority owner CEZ; Ratings affirmed.
On April 28, 2026, S&P Global Ratings has revised outlook on Czech integrated energy company CEZ a.s. to negative from stable, reflecting that the company could divest part of its regulated gas and electricity distribution operations. This could lead to a reduction in regulated earnings beyond previous base case, and may be a step toward further state control in CEZ. S&P Global Ratings sees Czech Gas Networks Investments S.a.r.l. (CGNI) as moderately strategic for CEZ, and as such, has revised the outlook on 'A-' issuer credit rating on CGNI to negative from stable.
S&P Global Ratings has affirmed 'A-' long-term issuer credit rating on CGNI.