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S&P affirms Inkia Energy
Standard & Poor’s said it affirmed its BB corporate credit rating on Inkia Energy Ltd. S&P also affirmed the BB rating on the company’s senior unsecured notes due 2021.
The outlook remains stable.
S&P said it considers Inkia’s financial risk profile as “aggressive,” reflecting the company’s reliance on dividends from its operating subsidiaries to service its debt, an aggressive investment plan that raises debt in the short to medium term, and the higher risks associated with operating some Caribbean and Bolivian assets that expose the company to greater economic volatility.
The partly offsetting factors are Inkia’s relatively stable and predictable revenue base after the completion of some of new projects and the acquisition of some brownfield assets. S&P also incorporate the relatively favorable debt payment schedule at the holding level because Inkia has only one bond due 2021.
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