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C.A. La Electricidad De Caracas Upgraded to 'B' Aug 04
Standard & Poors, Aug 2004
Abstract
NEW YORK (Standard & Poor's) Aug. 26, 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 'B-'. The outlook remains stable. The rating action follows the recent decision to raise the long-term credit rating on the Bolivarian Republic of Venezuela (B/Stable/B). 'The rating action reflects the fact that EDC has proven its ability to operate in Venezuela, which still faces foreign currency controls and macroeconomic volatility,' said Standard & Poor's credit analyst Federico Mora. 'EDC's ratings remain closely correlated to the sovereign ratings assigned to the Bolivarian Republic of Venezuela and the macroeconomic environment in which the company operates.' EDC's ability to serve its foreign...
Companies mentioned in this report are: C.A. La Electricidad De Caracas ,AES Corp. (The)
Action: Affirmed
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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