Fitch revises ETB to stable

Fitch Ratings said it affirmed Empresa de Telecomunicaciones de Bogota SA ESP 's (ETB) long-term foreign and local currency issuer default ratings at BB+.

The agency also affirmed the company’s national long-term rating at AA+(col) and its 530 billion Colombian peso senior notes due 2023 at BB+.

The outlook was revised to stable from negative.

Fitch said the affirmation and outlook revision reflect ETB's recent credit metrics improvement, outperforming the agency’s previous base case expectations, a trend expected to be maintained in 2018 to 2020.

The company has materially improved its EBITDA in 2017 through the reduction of its operational costs amid stable revenue generation, Fitch noted.

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