Fitch gives Mercury Chile, notes BB+

Fitch Ratings said it assigned Mercury Chile HoldCo LLC, a first-time long-term foreign-currency issuer default rating of BB+. The agency also gave a BB+ rating to the company's senior secured proposed new issuance for up to $425 million, guaranteed by Inversiones Cachagua SpA, Mercury Chile Co II Ltd., Inversiones LK SpA and Omega SpA.

“Mercury Chile's ratings are linked to AES Andes SA's (BBB-/stable) credit profile, and the guarantor, Inversiones Cachagua is the intermediary company registered in Chile owning 67% of AES Andes, and thus Mercury Chile indirectly owns approximately 67% of AES Andes. Per Fitch's Parent Subsidiary Linkage, Fitch views Mercury Chile, Inversiones Cachagua and AES Andes on a consolidated basis,” the agency said.

The outlook is stable.

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