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Article: Fitch Rates EPM's US$500MM Unsecured Notes Issuance 'BB+'.
- Article from:
- Energy Weekly News
- Article date:
- July 31, 2009
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Fitch Ratings has assigned a 'BB+' rating to Empresas Publicas de Medellin E.S.P.'s (EPM) US$500 million proposed unsecured note issuance. Proceeds from this issuance are expected to be used to finance capital expenditures associated with the company's 2009-2012 growth strategy and for other general corporate expenses.
EPM's ratings reflect the company's natural monopoly position as the main supplier of power and natural gas services to the Medellin metropolitan area and the department of Antioquia. The ratings also incorporate the company's position as one of the largest generators of electricity. With nearly 25% of the country's generation capacity, EPM is in a ...