Fitch affirms Itabo

Fitch Ratings said it affirmed Empresa Generadora de Electricidad Itabo, SA's B- international foreign and local currency issuer default ratings and revised its outlook to stable from positive.

Fitch said it also affirmed at B-/RR4 the $125 million of senior notes due 2013 issued by Itabo Finance SA.

Concurrently, Fitch added that it has affirmed Itabo's BBB (dom) national-scale rating.

The outlook revision reflects the potential need for additional working capital in light of low collections from distribution companies, the agency said.

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