Moody’s upgrades Edenor

Moody’s Investors Service said it upgraded Empresa Distribuidora Norte SA (Edenor) corporate family rating and debt ratings to Caa2 from Caa3.

The outlook is positive.

This upgrades conclude a review that began in November 2015, Moody’s said.

The upgrade considers the ratification of a number of supportive measures announced by the new government, in addition to some positive measures taken by the former administration toward the federally regulated electric utilities.

But in spite of this clearly positive industry development, a considerable amount of uncertainty remains in place, which constrains the ratings, Moody’s said.

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