The Outlook revision reflects the limited upside to the ratings following Eviny's recent acquisition of two wind farms. While the integration of wind capacity slightly improves the utility's business risk profile, it weighs on credit metrics.

The upgrade follows significant improvements in Eviny's financials, which are likely to last due to elevated power prices. Further upside is reflected by the Positive Outlook, assuming Eviny maintains a strong financial profile over a prolonged time.