Moody’s lifts Isagen to stable

Moody’s Investors Service said it changed the outlook on Isagen SA ESP to stable from negative and affirmed its existing Baa3 issuer rating.

Moody’s also said it changed the company’s base credit assessment rating to Baa3 from Ba1.

The change in the outlook reflects expectations that Isagen will be able to record key credit metrics that are commensurate with the Baa-rating category, Moody’s said.

This expectation largely considers that the completion of the 820 megawatt Sogamoso hydroelectric generation facility increased the company’s footprint within the Colombian market significantly, the agency said, while also helping the company to balance its contracted position and enhance the predictability of its cash flows.

The ratings also capture its market position as the third largest generation company in Colombia, as well as its satisfactory operations, Moody’s said.

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