Moody's rates Genneia notes B3/A3.ar

Moody's Latin America said it assigned B3/A3.ar ratings to Genneia's class XIII proposed notes for up to $25 million and at the same time affirmed its B3/A3.ar global local currency corporate family rating and the B3/A3.ar rating on Genneia's other outstanding notes.

The outlook is stable.

Genneia will use the proceeds from the new notes to repay other short-term debt and to anticipate the funding of its next year's financing needs.

Moody's said the B3/A3.ar ratings are supported by Genneia's stable cash flows arising primarily from its wind and "energia distribuida" operations coupled with its moderately leveraged financial position.

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