S&P ups Edenor

Standard & Poor's said it raised its ratings on Empresa Distribuidora y Comercializadora Norte SA (Edenor) to B- from CCC+.

The outlook is stable.

S&P said that the rating action reflects its conclusion that the company's manageable debt maturities in the next three years and sustained demand growth prospects will allow the company to maintain credit measures commensurate with the rating category and partially offset some of the regulatory uncertainties that continue affecting the electric sector in Argentina.

The agency noted that the ratings on Edenor reflect the company's weak business and financial risk profiles, which derive from high political and regulatory risks, increasing concerns regarding power supply in Argentina, the company's high foreign exchange risk and limited financial flexibility.

© 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.