Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for E-CL SA > News item |
Fitch to rate E-CL notes BBB-
Fitch Ratings said it expects to assign a BBB- international scale rating to E-CL SA's $400 million proposed senior unsecured debt issuance.
The proceeds from the 10-year notes will be used for the prepayment of existing indebtedness and general corporate purposes, including funding E-CL's capital expenditure program, Fitch said.
The expected rating is equivalent to E-CL's assigned foreign-currency issuer default rating.
The outlook is stable.
The ratings reflect the company's sound financial profile, balanced contracted position with its generation matrix, experienced management team and the support historically provided by its principal shareholders, Fitch said.
Credit risks associated with the company include the potential to embark on a large investment program, which could result in incremental leverage, the agency said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.