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S&P gives AES Panama notes BBB-
Standard & Poor's said it assigned its BBB- corporate credit rating to AES Panama SA and its BBB- rating to AES Panama's $300 million senior notes due in 2016.
The outlook is stable.
The agency added that AES Panama will issue the bonds to pay out the outstanding long-term indebtedness and to address corporate needs.
S&P said that the rating reflects the company's strong profitability, projected cash flow stability deriving from the diversified long-term purchase-power agreements signed with the three distribution companies in Panama, the growing prospects for power consumption in Panama and Panama's attractive and business-oriented regulatory framework that seeks to optimize the system's efficiency.
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