S&P might cut Eten

Standard & Poor's said it placed its BBB- rating on Planta de Reserva Fria de Generacion de Eten SA's (Eten's) $132.8 million senior secured notes due December 2033 on CreditWatch with negative implications following the report of construction delays.

The CreditWatch listing reflects the delay in construction of the 230 megawatt dual simple cycle power generation plant. If the contractor completes construction after the COD, Eten will face penalties, the agency said.

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