Fitch lifts Energia Eolica view to positive

Fitch Ratings said it affirmed the long-term rating assigned to Energia Eolica SA's (Inka) $204 million senior notes due in 2034 at BBB-.

The outlook was revised to positive from stable.

The outlook revision reflects the company’s positive performance in terms of consolidated energy output, Fitch said.

To a lesser extent, the outlook revision also considers the company’s actual operating expense figures, which also came in at less than budgeted amounts, the agency said.

The ratings are driven by Inka's adequate wind-certification study, which includes reliable results for long-term correlation, further supported by actual generation levels of more than P50 until September 2016, Fitch said.

The ratings also reflect the risks associated with the operations of wind-farm facilities over a 20-year term, the agency said.

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