Good competitive position as a power generator; Relatively diversified asset base; Manageable maturity profile; and Large portfolio of short- and medium-term power sales contracts. Exposure to construction risk on its 400-megawatt El Quimbo hydroelectric project; Aggressive dividend policy; and Some exposure to hydrological risks. Standard & Poor's Ratings Services' ratings on Emgesa S.A. E.S.P., as Colombia's second-largest power generator by installed capacity, reflect our assessment of the company's business risk profile as "satisfactory" and its financial risk profile as "intermediate," as our criteria define those terms. We view the company's credit quality as intertwined with that of its sister company, CODENSA S.A. E.S.P. (not rated), because of the high integration between the two companies including shared management, support units, and...
Companies mentioned in this report are:
- Emgesa S.A. E.S.P.
- Endesa S.A.
- Empresa Nacional de Electricidad S.A. Chile
- Bogota Distrito Capital
- Enel SpA
- Empresa de Energia de Bogota S. A. E. S. P.
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Research Type: Full Analysis