S&P lowers Empresa de Energia view to negative

Standard & Poor’s said it affirmed the BBB-corporate credit and senior unsecured debt rating on Empresa de Energia de Bogota SA ESP and its subsidiaries, Transportadora de Gas Internacional SA ESP and Gas Natural de Lima y Callao SA (Calidda).

The outlooks were revised to negative.

The negative outlooks reflect a view that further depreciation of the Colombian peso against the U.S. dollar or additional weakness in its EBITDA generation could lead to further weakness in the group’s key financial ratios, S&P said.

The ratings also consider the Empresa’s BBB- stand-alone credit profile and the high likelihood that the city of Bogota would provide timely and sufficient extraordinary support to the group in the event of financial distress, the agency said.

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