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S&P lifts ISA Capital
Standard & Poor's said it raised its corporate credit rating on ISA Capital do Brasil SA to BB+ from BB.
In addition, S&P said it raised the rating on the company's $554 million senior notes to BB from BB-.
The outlook is stable.
The agency added that the rating action follows the rating upgrade on its parent, Interconexion Electrica SA E.S.P. to BB+ from BB as a result of the rating upgrades on the Republic of Colombia's long-term local and foreign currency.
S&P said it believes that ISA Capital will receive implicit support from ISA, its majority owner, mainly because of the company's important role in Brazil's electricity sector.
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