Moody’s cuts Instituto Costarricense, Reventazón

Moody's Investors Service said it downgraded the ratings of Instituto Costarricense de Electricidad and Reventazón Finance Trust to B1 from Ba2 and changed the outlook to negative.

The action concludes the review that was initiated on Oct. 19 and follows the action in which the agency downgraded Costa Rica's ratings to B1 and changed the outlook to negative, Moody’s said.

The action reflects a view that the creditworthiness of these entities cannot be completely de-linked from the current operating environment and regulatory regimes in Costa Rica, the agency explained.

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