Fitch lifts Inkia

Fitch Ratings said it has upgraded Inkia Energy's foreign and local currency issuer default ratings to BB from BB-.

The rating action affects $300 million of senior unsecured notes due 2021. The outlook is stable.

According to the agency, the rating upgrade reflects the completion of Kallpa's expansion and conversion to combined-cycle capacity in August 2012, which will result in higher cash flow generation starting in 2013.

The rating upgrade also reflects the repayment of intermediate holding company debt that was limiting the flow of dividends from Edegel to Inkia, Fitch added.

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