S&P lifts Empresa de Energia debt

Standard & Poor’s said it affirmed the BBB- corporate credit rating on Empresa de Energia de Bogota SA ESP.

The agency also said it also raised the ratings on the company’s senior unsecured debt to BBB- from BB+.

The outlook is stable.

The ratings reflect the company’s BBB- stand-alone credit profile, satisfactory business risk profile, intermediate financial risk profile and adequate liquidity, S&P said.

The ratings also consider that there is a high likelihood that the city of Bogota would provide timely and sufficient extraordinary support to the company in the event of financial distress given the link between the two entities, the agency said.

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