Fitch affirms Isagen

Fitch Ratings said it affirmed Isagen SA ESP's foreign- and local-currency issuer default rating at BB+ and its long-term national-scale rating and COP$850 million local bonds issuance at AA+(col).

The outlook is stable.

Isagen's ratings reflect the company's solid competitive position, its low marginal cost and robust portfolio of generation assets located throughout Colombia, the agency said. The ratings also consider Isagen's strong cash flow generation and manageable liquidity, which provides the company with enough flexibility to undertake its aggressive growth strategy.

The ratings incorporate Isagen's significant debt increase and the pressure on credit metrics during Sogamoso project's construction, as well as the company's moderate exposure to hydrology and regulatory risk, the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.