Fitch affirms Empresa, Transportadora

Fitch Ratings said it affirmed Empresa de Energia de Bogota SA's foreign- and local-currency issuer default ratings at BB and national scale rating at AA(col).

Fitch also said it affirmed the BB foreign- and local-currency ratings of Transportadora de Gas Internacional SA ESP.

The outlook for both companies is stable.

About $750 million of Transportadora de Gas notes due 2017 and $610 million of Empresa de Energia notes due in 2014 are affected by this action.

The affirmations follow news that Citi Venture Capital International will inject $400 million of capital into Transportadora de Gas, Fitch said.

This proposed equity increase would decrease Empresa's participation in the company to about 66% from 97.9%, the agency said.

The ratings reflect the company's diversified portfolio of assets, which have a low business-risk profile, and stable and predictable cash flow generation, Fitch said.

Empresa's low business-risk profile stems from its diversified portfolio of energy assets, which for the most part operate as regulated natural monopolies, the agency added.

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