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C.A. La Electricidad De Caracas Upgraded to 'B-' Jul 04
Standard & Poors, July 2004
Abstract
SAO PAULO (Standard & Poor's) July 19, 2004-- Standard & Poor's Ratings Services today raised its foreign currency corporate credit rating on C. A. La Electricidad de Caracas (EDC) to 'B-' from 'CCC+'. The outlook is now stable. The rating action reflects the ability of EDC to operate in Venezuela, which faces foreign currency controls and macroeconomic volatility. As EDC's financial performance is more than adequate for the rating category, its ratings are closely correlated with the sovereign ratings assigned to Venezuela and the macroeconomic environment in which the company operates. The ratings on EDC have been so far strongly constrained by the country's foreign currency control exercised by Comisi-n de Administraci-n de Divisas (CADIVI), a federal body established on...
Companies mentioned in this report are: C.A. La Electricidad De Caracas ,Venezuela (Bolivarian Republic of),AES Corp. (The)
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.
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