S&P revises Haina view to negative

S&P said it affirmed its B+ corporate credit ratings on Empresa Generadora de Electricidad Haina SA (EGE Haina) and revised the outlook to negative from stable.

“The outlook revision to negative reflects our view of a deteriorating business risk profile if EGE Haina maintains, in the following 12 months, its exposure to the spot market volume, with low contracted levels,” the agency said in a news release.

Although the Dominican Corp. of State Electrical Companies reopened a tender for medium-term power purchase agreements which could be beneficial for EGE Haina, S&P said it would necessarily monitor and assess the prices and conditions of those agreements and their potential effects on the company's creditworthiness.

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