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Chivor S.A.'s Corporate Credit Rating Raised To 'B+'; Outlook Stable Dec 05 Product Image

Chivor S.A.'s Corporate Credit Rating Raised To 'B+'; Outlook Stable Dec 05

  • ID: 1834951
  • December 2005
  • Standard & Poors

Abstract
BUENOS AIRES (Standard & Poor's) Dec. 16, 2005--Standard & Poor's Ratings Services said today it raised its corporate credit and senior secured debt ratings on Colombian hydropower generator Chivor S.A. E.S.P. to 'B+' from 'B', reflecting the better-than-expected cash flow generation that has led to better-than-anticipated debt reduction during 2005, thus strengthening the company's financial profile. The upgrade incorporates expectations of a continuation of this trend in the next two years, fueled by more favorable contracted and spot market prices for power in Colombia. The outlook is stable. "The ratings on Chivor reflect the challenges of operating in the highly competitive and largely hydro-based Colombian electricity system and the company's volatile cash flow generation, coupled with its still relatively weak,...

Companies mentioned in this report are: AES CHIVOR & CIA S.C.A. E.S.P.,AES Corp. (The),AES Gener S.A.
Action: Outlook: Stable
Action: Upgraded

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.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

AES CHIVOR & CIA S.C.A. E.S.P.,AES Corp. (The),AES Gener S.A.

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