Fitch affirms Namibia Power

Fitch Ratings said it affirmed Namibia Power Corp. (Pty) Ltd.'s long-term issuer default rating at BB+ and short-term issuer default rating at B.

Fitch also affirmed the national long-term rating at AA+(zaf) and short-term rating at F1+(zaf).

The outlooks are stable.

“The ratings of NamPower reflect its standalone credit profile (SCP) of its monopolistic position in energy trading and transmission in Namibia, with a cost-reflective tariff framework and strong financial profile,” the agency said in a news release.

“However, the rating is capped by that of the group's Namibian sovereign shareholder (BB+/stable).”

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