Moody's upgrades Nautilus Inkia

Moody's Investors Service said it upgraded Nautilus Inkia Holdings SCS' senior unsecured and corporate family ratings to Ba2 from Ba3. The outlook is stable.

“This rating action follows the group's announcement that it has sold the group's electricity distribution business in Guatemala, and therefore a governance consideration,” the agency said in a press release.

“The ratings upgrade incorporates our view that, after the sale, Inkia's business risk profile will improve as it will largely depend on the cash up streamed from its remaining and most significant subsidiary, Kallpa Generacion SA (Kallpa, Baa3 stable), which operates in Peru (government of Peru, Baa1 negative), a market that has been relatively more stable and predictable than in Guatemala (government of Guatemala Ba1, stable),” Moody’s said.

The outlook is stable.

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