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Fitch rates Inkia Energy debt BB
Fitch Ratings said it assigned an expected rating of BB(EXP) to Inkia Energy Ltd.'s proposed $450 million debt issuance due 2027.
The company expects to use the proceeds to refinance its existing bond due 2021 and for general corporate purposes.
Fitch said the ratings are supported by the solid credit profile of Inkia's most important subsidiary, KallpaGeneracion SA.
“Kallpa's assets consist of a 545MW base-load hydroelectric plant, and two thermal generation plants with aggregate installed capacity of 1,063MW. Inkia has a 74.9% participation in Kallpa, which is expected to provide approximately half of Inkia's consolidated EBITDA as key power purchase agreements (PPAs) are activated over the next 12 months,” the agency explained in a news release.
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