S&P ups Interconexion Electrica

Standard & Poor's said it raised its foreign currency long-term corporate credit rating on Interconexion Electrica SA E.S.P. to BB+ from BB and affirmed the BBB- local currency rating on the company.

The outlook is stable.

The upgrade on Interconexion Electrica follows the raising of the long-term foreign currency rating and the long-term local currency sovereign rating on the Republic of Colombia to BB+ from BB and to BBB+ from BBB, respectively, based upon the country's significantly improved growth prospects, the agency said.

The outlook on the ratings on Colombia is stable, S&P noted, adding that the ratings on Interconexion Electrica reflect the company's dominant position in Colombia's National Transmission System, its strategic importance to the Republic of Colombia, its natural monopoly and the government's ownership.

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