Fitch rates EHE Haina note B-

Fitch Ratings said it assigned B- local- and foreign-currency issuer default ratings to Empresa Generadora de Electricidad Haina, SA (EHE Haina) and a B- rating with a recovery rating of RR4 to its proposed issuance of senior unsecured notes due 2014.

The outlook is stable.

The agency said EGE Haina's ratings reflect its diversified portfolio of generation assets, its leading market position, its competitive operating efficiency, continued support from the Dominican Republic's government to the electricity sector and the efforts to make the Dominican electricity sector self sustainable.

The ratings also incorporate the risks of operating electric generation assets in the Dominican Republic, the distribution companies' low collection and high technical and no technical losses and the government's intention to renegotiate power purchase agreements with generation companies, Fitch said.

As of December 2006, EGE Haina's total debt-to-EBITDA ratio was 1.8x.

© 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.