Fitch raises TGI

Fitch Ratings said it upgraded Transportadora de Gas Internacional SA ESP's (TGI) foreign and local currency issuer default ratings to BBB- from BB+.

These rating actions apply to $750 million of debt outstanding.

The outlook for is stable.

The rating action reflects Fitch's recent upgrade of Empresa de Energia de Bogota's to BBB-, which was a result of its improving financial profile, the agency said, noting that TGI's upgrade reflects the company's linkage with its primary shareholder, Empresa, which supports the company through intercompany loans.

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