Fitch affirms Interconexion Electrica

Fitch Ratings said it affirmed Interconexion Electrica SA ESP’s long-term foreign- and local-currency issuer default ratings at BBB+.

The outlook is stable.

The agency also affirmed Interconexion Electrica’s senior unsecured local bond and commercial paper program rating at AAA(col) and F1+(col), respectively.

Fitch said the ratings reflect the low business risk profile of the company, which is a characteristic of the power transmission business.

The ratings incorporate the strong geographic and business diversification of its revenue source, which along with the high predictability of cash flows from operations translate into a strong financial profile, the agency added.

Also factored in the ratings are Interconexion Electrica’s adequate liquidity position and its aggressive growth strategy.

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