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Fitch hikes ICE
Fitch Ratings said it upgraded Instituto Costarricense de Electricidad y Subsidiarias' (ICE) long-term foreign-currency and local-currency issuer default ratings to BB- from B and senior unsecured bonds to BB- from B/RR4.
“The upgrade reflects ICE's strong linkage to the Costa Rican sovereign rating. Fitch upgraded Costa Rica's IDR to BB- from B on March 2, 2023,” the agency said in a statement.
The outlook is stable.
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