Fitch revises Andres view to stable

Fitch Ratings said it affirmed AES Andres BV’s long-term foreign-currency issuer default rating at BB- and its national scale long-term rating at AA(dom) and removed the ratings from rating watch negative. The outlook is stable. Fitch also affirmed Andres’ $270 million of notes due 2026 at BB- and removed the negative rating watch.

Following repairs to the steam turbines, which were covered by the companies’ insurance and manufacturer’s warranty net of applicable deductibles for equipment and business interruption, at AES Andres and Dominican Power Partners, the turbines at both plants are fully operational.

The negative rating watch was placed on Andres and the notes due to uncertainty surrounding the repairs to steam turbines at both AES Andres and Dominican Power Partners, as well as the possible length of outage times.

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