Fitch lifts, withdraws Viesgo Generacion

Fitch Ratings said it upgraded Viesgo Generacion SLU's long-term issuer default rating to BBB from BB.

The outlook is positive.

Fitch also withdrew the rating for commercial reasons.

Fitch also said it withdrew the senior secured rating on Viesgo's €125 million secured loan due to its full repayment.

Fitch said it will no longer provide analytical coverage of the company.

The upgrade reflects Repsol SA's successful acquisition of Viesgo in November 2018 and an assessment of strong overall links between the two companies, the agency said.

Viesgo's acquisition represents Repsol's first significant step toward its strategic objective of becoming a relevant player in the Spanish electricity sector by 2025, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.