S&P ups AES

S&P said it raised its ratings on AES Corp., including the issuer credit rating to BBB- from BB+ and the issue-level ratings on its senior unsecured debt.

“The upgrade to investment grade follows further de-risking. Our rating on AES reflects a satisfactory business risk profile (BRP) and a significant financial risk profile. While we have not changed AES' BRP, we note an improvement in the BRP from further de-risking as the company rationalizes its portfolio (now down to 13 from 29 countries) and refocuses its operations to rate-based utilities and long-term contracted businesses,” S&P said in a press release.

The outlook is stable.

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