Fitch rates EFE notes A

Fitch Ratings said it assigned an expected rating of A to Empresa de los Ferrocarriles del Estado (EFE) proposed notes up to $500 million, senior unsecured, with an expected maturity of 10-30 years.

“The expected rating of notes is at the same level of EFE´s foreign-currency (FC) issuer default rating (IDR) at A, since it reflects by definition, the timely payment of the entity’s financial obligations in foreign currency,” Fitch said in a press release.

Proceeds will be used for capital expenditure, and to refinance a portion of current debt and to fund general corporate purposes.

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