Summary: Empresa El?ctrica de Guatemala S.A. (EEGSA) May 11
Standard & Poors, May 2011
Abstract
Standard & Poor's Ratings Services' rating on Empresa El-ctrica de Guatemala S.A. (EEGSA) reflects EEGSA's ability to stabilize its financial metrics despite the applicable tariffs from 2008 through 2013, which reduced the value-added distribution (VAD) component of the tariffs. Also, under the new tariff structure, cash flow generation will, we believe, allow the company to fund all its operating activities and capital investment needs through 2013. The ratings also incorporate our opinion that there is a moderate likelihood of timely and sufficient extraordinary support from the Republic of Guatemala (foreign currency: BB/Stable/B; local currency: BB+/Stable/B) to EEGSA in the event of financial distress. In accordance with our criteria for government-related entities, we base our view of a moderate likelihood of...
Companies mentioned in this report are: Empresa Electrica de Guatemala S.A. (EEGSA),Guatemala (Republic of)
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Empresa Electrica de Guatemala S.A. (EEGSA),Guatemala (Republic of)
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