Fitch lifts Transener to A-(arg)

Fitch Ratings said it upgraded Transener SA's national scale rating to A-(arg) from BBB(arg) and affirmed the company's long-term foreign- and local-currency issuer default ratings at B and its senior unsecured issue rating at B/RR4.

The outlook is stable.

The agency said Transener's ratings are based on its solid credit quality, which stems from stable and predictable operating cash flows and its financially sound credit profile. Its monopoly position in the Argentine electricity transmission network (until 2088) and in the Province of Buenos Aires network (until 2092) gives a strong market position what should further benefit the company when it participates in future bids for new transmission lines within the country.

The total debt-to-EBITDA ratio is 3x.

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