Fitch upgrades EEB to BBB

Fitch Ratings said it upgraded Empresa de Energia de Bogota SA ESP's (EEB) foreign and local currency issuer default ratings to BBB from BBB- and international senior unsecured debt ratings to BBB from BBB-.

At the same time, the agency affirmed the national long-term ratings at AAA(COL).

The outlook is stable.

Fitch said the ratings reflect EEB’s stable cash flow generation, strong business position, moderate and improving leverage as well as the company's solid liquidity position. The ratings also reflect EEB's reliance on dividends from its subsidiaries to service its debt and the company's aggressive growth strategy, the agency said.

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