Fitch ups Pasajeros Metro

Fitch Ratings said it upgraded Empresa de Transporte de Pasajeros Metro SA’s long-term foreign currency issuer default rating to A from A- and long-term local currency issuer default rating to A+ from A.

The outlook is stable.

The agency also upgraded Pasajeros Metro’s two senior unsecured bonds.

Fitch said the upgrade reflects the application of the recent "Government-Related Entities Rating Criteria" (GRE criteria). Pasajeros Metro is considered to be a GRE due to its public mission, providing essential public services to inhabitants in Santiago and its social development role for the State of Chile.

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