Fitch rates CFE notes BBB-

Fitch Ratings said it assigned a BBB- rating to Comision Federal de Electricidad's $850 million of notes due in 2033. The notes will be guaranteed by CFE Distribucion, CFE Suministrador de Servicios Basicos, CFE Transmision, CFE Generacion I, CFE Generacion II, CFE Generacion III, CFE Generacion IV, CFE Generacion V and CFE Generacion VI.

“CFE's ratings are equalized with the Mexican sovereign ratings based on Fitch's government-related entities ratings criteria. Fitch assesses the linkage between the two entities as very strong and believes the government has a strong to very strong incentive to support CFE,” the agency said in a press release.

The proceeds will be used to refinance indebtedness and for general purposes.

Fitch also affirmed CFE’s ratings including its long-term foreign-currency and local-currency issuer default ratings at BBB and senior notes at BBB-.

The outlook is stable.

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