Fitch rates Empresa de Transmision bond BBB

Fitch Ratings said it assigned an expected rating of BBB to Empresa de Transmision Electrica, SA's proposed senior unsecured bond.

Fitch also said it assigned to the company foreign-currency and local-currency long-term issuer default ratings of BBB, along with a national long-term rating of AAA(pan).

The assessment of its standalone credit profile is BBB-.

The outlook is stable.

The ratings reflect the company's strong linkage with the country's sovereign due to the government's 100% ownership in the company, along with the government's history of financial support for the company and its strategic importance to the country's electricity infrastructure, Fitch said.

The ratings also 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, the agency said.

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