Fitch alters EGE Haina view to positive

Fitch said it changed its outlook for Empresa Generadora de Electricidad Haina, SA to positive from stable and affirmed the BB- ratings on the issuer and its $300 million of senior unsecured notes.

“The positive outlook reflects Fitch's revision of the outlook on the Dominican Republic's sovereign rating. Haina's credit quality is linked to the sovereign rating given the dependency of state-owned distribution companies from government transfers as a result of the high risk of the Dominican Republic electricity sector, which has high energy losses, low level of collections and important subsidies,” the agency said in a press release.

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