Fitch assigns Investment Energy stable view

Fitch Ratings said it assigned Investment Energy Resources Ltd. a stable outlook, removed its long-term foreign- and local-currency issuer default ratings from rating watch negative and affirmed their B ratings.

“The removal of the RWN on IERL's IDRs reflects the successful settlement of IERL's subsidiary Participaciones Choluteca Dos, SA's selective default on its subordinated debt,” Fitch said in a press release.

The outlook reflects Fitch's expectation the company will maintain its adequate financial structure while following a clear deleveraging trajectory, the agency said.

Fitch said it forecasts leverage, measured as total debt/EBITDA, will trend toward 3.3x by 2022, given the amortizing nature of the debt, which is consistent within the BB rating category.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.