S&P boosts Empresa Electrica de Guatemala

Standard & Poor's said it raised its foreign currency rating on Empresa Electrica de Guatemala SA to BB from BB-, following the upgrade of the Republic of Guatemala (foreign currency BB/stable/B, local currency BB+/stable/B).

At the same time, the agency said it affirmed the local currency rating on Empresa Electrica de Guatemala at BB.

The outlook is stable.

S&P added that the BB ratings on the company are constrained by the significant country risks relevant for a utility operating in Guatemala, noting that the ratings are supported by the company's strong cash flow protection measures and adequate liquidity.

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