Moody’s rates Electroingenieria notes Caa1/Baa3.ar

Moody's Latin America said it assigned a Caa1 global scale rating and Baa3.ar national scale rating to Electroingenieria SA's proposed class I and class II senior unsecured notes, together for up to ARS 800 million.

The outlook is stable.

Moody’s said the Caa1/Baa3.ar ratings are supported by the company's high quality backlog of engineering and construction work, which is expected to support medium- and short-term revenue growth, sound business model, moderate leverage and adequate liquidity profile.

The ratings also take into account Electroingenieria’s strong competitive position to undertake upcoming public works, given its track record and its certified capacity to bid, coupled with the high qualification scores it obtained from the regulatory authorities, the agency said.

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