Fitch assigns EPM notes BBB+

Fitch Ratings said it assigned an expected rating of BBB+ (exp) to Empresas Publicas de Medellin ESP's (EPM) proposed issuance of senior unsecured notes due 2027.

The 10-year notes will be denominated in Colombian pesos, payable in dollars, and will carry a fixed rate.

Proceeds will be used to refinance up to $1 billion of existing debt under a credit agreement dated Dec. 29, 2015, with maturity on Dec. 29, 2020, between EPM and a group of seven international banks (the Club Deal Loan).

The notes will rank pari passu in priority of payment with all other EPM senior unsecured debt and will be rated the same as the company's other senior unsecured obligations, the agency explained.

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