Fitch rates Empresa de Transmision Electrica BBB

Fitch Ratings said it assigned Empresa de Transmision Electrica, SA's foreign-currency and local-currency long-term issuer default ratings of BBB and national long-term rating of AAA(pan).

The outlook is stable.

The ratings reflect the company's strong linkage with Panama's sovereign due to the government's 100% ownership in the company and history of financial support, Fitch said.

Empresa de Transmision Electrica is also strategically important to the country's electricity infrastructure, the agency said.

The ratings reflect the company's relatively low business risk, stable cash flows, ownership of its assets and expected credit metrics in line with those of similarly rated regional peers, Fitch said.

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