Fitch affirms Electroandina

Fitch Ratings said it has affirmed the BB foreign and local currency issuer default ratings of Electroandina SA. The outlook remains stable.

The ratings reflect Electroandina's business position, which benefits from its long-term power purchase agreements with financially strong industrial and mining companies, well diversified fuel generation mix and sound operating strategy, the agency said.

The assigned ratings continue to be constrained by exposure to natural gas supply availability from Argentina and the evolution of energy fuel prices, mainly coal and diesel, Fitch noted.

Liquidity concerns remain as the company faces amortizations of $23.7 million in 2006 and 2007.

© 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.