Fitch affirms Compania Mega

Fitch Ratings said it affirmed Compania Mega SA's senior secured international debt rating at B+ and Argentine national scale rating at A(arg).

The rating applies to the outstanding $168 million series G notes that are held on a pro rata basis by the sponsors.

Fitch said the rating affirmation reflects the continued strong operational and financial performance of the project, significant liquidity and the fact that the sponsors now hold all debt.

Fitch said it also considered the elimination of the previous collateral structure following the acquisition of the outstanding debt by Mega's sponsors.

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