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Article: Fitch Upgrades TGS's L-T Foreign and Local Currency IDRs to 'B+'; Outlook Stable.
- Article from:
- Business Wire
- Article date:
- November 6, 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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BUENOS AIRES, Argentina & CHICAGO -- Fitch Ratings has upgraded the long-term foreign and local currency Issuer Default Rating (IDR) of Transportadora de Gas del Sur S.A. (TGS) to 'B+' from 'B'. In addition, Fitch has upgraded the senior unsecured issue rating to 'B+' from 'B', reflecting a recovery expectation in the 'RR4' category. All ratings have a Stable Outlook.
The local and foreign currency IDR of TGS reflects the company's moderate business risk profile, the sector's weak regulatory framework, solid financial position and adequate operations in the gas transportation and gas processing business in Argentina.
Gas transportation accounted for 38 ...