Moody’s shifts AEG Gener view to stable

Moody's Investors Service said it revised the outlook for AES Gener SA to stable from negative.

“Gener’s stable outlook anticipates the completion of the Alto Maipo units during 2021 and 2022. It also incorporates the expectation of a limited impact on Gener’s cash flows and credit metrics from the recently enacted Law No 21,185 that created a transitional mechanism for stabilizing electricity prices to utility customers subject to the regulated price system,” Moody’s said in a press release.

The agency also affirmed the ratings of AES Gener, including its Baa3 senior unsecured and Ba2 junior subordinate ratings, as well as the Baa3 senior secured rating of Empresa Electrica Angamos SA. The outlook for Angamos is unchanged at stable.

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