Moody’s upgrades AES

Moody's Investors Service said it upgraded the ratings of AES Corp., including the corporate family rating to Ba1 from Ba2 and the probability of default rating to Ba1-PD from Ba2-PD.

In addition, the agency upgraded AES' senior unsecured ratings to Ba1 from Ba2 and its senior secured credit facility to Baa3 from Ba1.

The speculative grade liquidity rating was affirmed at SGL-2.

The outlook is stable.

"AES continues to exhibit improvement in its credit profile,” Natividad Martel, Moody's vice president, senior analyst, said in a news release.

"Financial ratios are getting stronger, the contracted nature of cash flows is growing, the company exhibits superior business diversity and it is steadily reducing its exposure to carbon risks."

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