Fitch affirms Itabo

Fitch Ratings said it has affirmed Itabo Dominicana SPV's long-term issuer default rating at B and senior unsecured international bond rating due 2020 at B/RR4.

Concurrently, Fitch said it has affirmed Empresa Generadora de Electricidad Itabo SA's long-term issuer default rating and local currency issuer default rating at B.

Similarly, the national rating and senior unsecured local bond rating have both been affirmed at A-(dom), and the outlook on the long-term issuer default rating is positive, Fitch added.

The ratings reflect the electricity sector's high dependency on transfers from the central government to service its financial obligations, the agency noted.

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