Fitch affirms Nautilus Inkia

Fitch Ratings said it affirmed Nautilus Inkia Holdings LLC's long-term foreign and local currency issuer default ratings at BB.

The outlook is stable.

“Inkia's ratings are supported by the solid credit profile of its most important subsidiary, Kallpa Generacion SA (BBB-/stable),” the agency said in a news release.

“Kallpa's assets consist of a 555MW base-load hydroelectric plant and two thermal generation plants with aggregate installed capacity of 1,063MW.

“Inkia has a 74.9% participation in Kallpa that is expected to provide about half of Inkia's consolidated EBITDA, now that key power purchase agreements (PPAs) signed under Cerro del Aguila are active.”

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