Fitch rates Promigas notes BBB-

Fitch Ratings said it assigned a BBB- rating to Promigas SA ESP’s proposed senior notes for up to $400 million with Promigas and Gases del Pacifico, a subsidiary 100% controlled by Promigas, acting as a co-issuers.

Proceeds of the issuance will be entirely used to refinance existing debt at Promigas and Gases del Pacifico level, thus improving consolidated debt maturities profile and reducing refinancing risk while the company execute its capex requirements in the next years, Fitch said.

“Promigas' ratings reflect the company's strong business position in the natural gas transportation and distribution sectors in Colombia,” the agency said in a news release.

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