Fitch affirms Elektra Noreste

Fitch Ratings said it affirmed Elektra Noreste, SA's foreign- and local-currency issuer default ratings at BBB.

The action affects about $100 million of debt outstanding due 2021.

The outlook is stable.

The ratings are based on its strong financial position, stable cash flow generation and low business risk profile, which is characteristic of electric distribution companies, Fitch said.

Cash flow stability is positively incorporated into the rating as it lowers business risk and adds to certainty, the agency said.

The ratings also consider the company's exposure to regulatory risk, Fitch said.

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