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Article: Fitch Ratings Affirms AEI (formerly Ashmore Energy International) at 'BB'.
- Article from:
- Business Wire
- Article date:
- November 21, 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 affirmed AEI's (formerly Ashmore Energy International) ratings as follows:
--Issuer Default Rating (IDR) at 'BB';
--US$1 billion term loan 'BB';
--US$500 million revolving credit facility 'BB'.
The rating affirmation follows the announcement of AEI's agreement to acquire a 50% indirect interest in Chilquinta Energia S.A. (Chilquinta) and a 37.9% indirect interest in Luz del Sur S.A. (Luz del Sur) and related companies from Public Service Enterprise Group (PSEG) for $685 million as well as various other recently completed and pending acquisitions and investments. The Rating Outlook is Stable.
The ...