Fitch rates Empresa Electrica Angamos debt BBB-

Fitch Ratings said it assigned BBB- long-term foreign- and local-currency issuer default ratings to Empresa Electrica Angamos SA.

The outlook is stable.

Fitch also said it expects to assign a BBB- long-term rating to the company’s proposed senior secured debt issuance of up to $800 million with a 14.5-year term.

The proceeds will be used to refinance the company’s project finance debt, Fitch said.

The ratings reflect the sound structure of the company’s long-term commercial agreements with strong investment grade counterparties, which allow the company to generate predictable cash flows, the agency said.

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