S&P lifts Itabo to stable view

Standard & Poor's said it revised the outlook on Empresa Generadora de Electricidad Itabo SA (Itabo) to stable from negative.

The agency also said it affirmed the B- ratings on the company.

The rating incorporates that there is a low likelihood of timely and sufficient extraordinary support from the Dominican Republic to Itabo in the event of financial distress, S&P said.

This is due to an assessment of Itabo's limited importance for the Dominican government's key economic and political objectives and its minority ownership of the company with no effective control rights, the agency said.

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