Fitch affirms Calidda

Fitch Ratings said it affirmed Gas Natural de Lima y Callao SA's long-term local and foreign currency issuer default ratings at BBB with a stable outlook.

Fitch also affirmed Calidda's $320 million of senior notes due in 2023.

“Calidda's ratings reflect the company's stable capital structure supported by its naturally monopolistic market position as Lima and Callao's sole natural gas (NG) distributor,” the agency said in a news release.

“The rating is further supported by sustained cash flow stability provided by the company's transparent, regulated tariff scheme designed to ensure adequate return on investment.”

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