Fitch revises ENA Norte rating

Fitch Ratings said it revised ENA Norte Trust's national long-term rating to A(pan) from A+(pan) following the recalibration of the agency's Panamanian national rating scale.

Fitch said its national ratings evaluate the potential for default on local currency obligations only for local issuers within Panama,

“The recalibration is due to a systemic change in Panamanian infrastructure international scale ratings from a recent change in the sovereign rating, and the need to better reflect national relativities. Fitch downgraded Panama's sovereign rating to BBB- from BBB with a negative outlook on Feb. 3, 2021,” the agency said in a press release.

The outlook is negative.

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