Moody's changes ICE outlook to negative

Moody's Investors Service said it affirmed the Baa3 senior rating of Instituto Costarricense de Electricidad and changed the outlook to negative from stable.

The rating action is prompted by the announcement that Moody's had changed the outlook of the Government of Costa Rica (Baa3) to negative from stable. ICE is wholly owned by the Costa Rican government, and Moody's expects that the high implied extraordinary support and dependence levels from the sovereign will not change.

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