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Article: Fitch Rates Empresa de Energia de Bogota's (EEB) US$710MM Proposed Issue 'BB'; Outlook Stable.
- Article from:
- Business Wire
- Article date:
- October 15, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHICAGO -- Fitch Ratings has assigned a preliminary rating of 'BB' to Empresa de Energia de Bogota S.A. ESP's - (EEB) proposed issuance of up to US$710 million in senior unsecured notes (the notes). Concurrently, Fitch has assigned foreign and local currency Issuer Default Ratings (IDRs) of 'BB' to EEB. The proceeds of the notes will be used to repay a portion of a bridge loan entered into by EEB for Transportadora de gas del Interrior S.A. ESP's (TGI) acquisition of Ecogas' natural gas transportation assets. The rating outlook is stable.
EEB's ratings reflect the company's diversified portfolio of energy assets, with low business risk profile and stable cash ...