Fitch upgrades Isagen

Fitch Ratings said it upgraded Isagen SA ESP's long-term foreign- and local-currency issuer default ratings to BBB from BBB-.

The outlook was revised to stable from positive.

Fitch also affirmed Isagen's long-term national scale rating at AAA(col) with a stable outlook as well as the short-term national scale rating at F1+(col).

In addition, the agency affirmed the ratings assigned to Isagen’s local bond issuances at AAA(col).

Fitch said the upgrade reflects the company's strengthening capital structure and improved EBITDA predictability in the medium term.

“The increase predictability results from adjustments in the company's commercial policy that limit exposure to spot price volatility related to adverse hydrology conditions,” the agency said in a news release.

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