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Moody’s rates GISA notes Caa1/Baa3.ar
Moody's Latin America said it assigned a Caa1/Baa3.ar rating to the ARS 70 million proposed notes by Generacion Independencia SA (GISA).
At the same time, the agency affirmed GISA' outstanding ratings at Caa1/Baa3.ar.
The outlook is negative.
Proceeds will be used to repay other short-term debt and to finance the company’s working capital needs and capital expenditures.
Moody’s said the Caa1/Baa3.ar ratings are supported by its expectation of stable operations and predictable cash flows arising from the relatively simple nature of the thermal power plant that has been in commercial operations for more than three years.
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