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Fitch rates Electricidad de Caracas notes B+
Fitch Ratings said it assigned a rating of B+ to the proposed offering of unsecured notes to be issued by Electricidad de Caracas Finance BV and unconditionally and irrevocably guaranteed by CA La Electricidad de Caracas.
The proceeds of the offering are expected to be used to acquire a 100% undivided interest in a loan from ABN Amro Bank NV to Electricidad de Caracas. Electricidad will use the proceeds from the loan to refinance existing debt. The outlook is stable.
Fitch said the ratings reflect the company' position as the largest private electric utility company in Venezuela and as a low-cost, vertically integrated company.
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