Fitch affirms Itabo

Fitch Ratings said it has affirmed Empresa Generadora de Electricidad Itabo, SA's international foreign and local currency issuer default ratings at B-.

The rating action applies to $125 million of notes due 2013 issued by Itabo Finance SA, the agency said, adding that the senior unsecured is also affirmed at B-/RR4.

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

The outlook is stable.

Itabo's ratings reflect the risks of operating electric generation assets in the Dominican Republic and are constrained by the systemic risks of the sector, the agency said.

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