Fitch ups Empresa de Energia de Bogota, to rate bonds BB+

Fitch Ratings said it upgraded Empresa de Energia de Bogota's foreign and local currency issuer default ratings to BB+ from BB. The rating action applies to $610 million of debt outstanding.

Fitch said it expects to rate the company's proposed $610 million of senior unsecured bonds BB+.

Fitch has also upgraded the company's national scale rating to AA+(col) from AA(col). The outlook for all ratings is stable.

The ratings upgrades reflect the company's recent $420 million equity issuance, which strengthens its capital structure and mitigates the company's need to increase debt levels to fund capital investments, Fitch said.

The rating actions also reflect the issuer's improving credit metrics and capital structure.

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