Fitch shifts AES Espana view to positive

Fitch Ratings said it changed its outlook for AES Espana BV to positive from stable and affirmed the BB- ratings on the company and its $300 million of notes due 2028.

The ratings consider the combined operating assets of AES Espana and Dominican Power Partners (DPP; jointly referred to as AES Dominicana), which are joint obligors of the notes due, the agency said.

“AES Espana's ratings reflect a strong linkage to the Dominican Republic's (BB-/positive) credit quality, due to its dependence on government transfers, as well as historically strong balance sheet and diversified asset portfolio,” Fitch said in a press release.

Fitch revised the Dominican Republic’s outlook to positive from stable on Nov. 29, which led to the improved outlook for AES Espana.

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