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Fitch lifts AES Gener
Fitch Ratings said it upgraded the local and foreign currency issuer default ratings of AES Gener SA to BBB- from BB+.
Fitch said it has also upgraded Gener's senior unsecured debt rating, which consists of $400 million senior notes due 2014, to BBB-.
The outlook is stable.
The agency noted that the upgrade of AES Gener's ratings reflects the company's improved financial profile as well as continued solid financial and operating performance while AES Gener's ratings continue to be supported by its position as the largest thermoelectric generation company in Chile.
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