EEB Outlook Sours

EEB Outlook Sours

Colombia

Fitch has cut the outlook on EEB’s debt to negative from stable and affirmed the Colombian state-owned power company’s rating at BB. The move affects some $610m in 2014 senior unsecured notes. The company’s ability to reduce debt leverage in the medium term has weakened, says the shop, pointing to its aggressive growth strategy and unlikely possibility EEB will manage to IPO anytime soon. EEB’s $320m cash position as of September 30 will likely dwindle as it seeks to meet rising domestic demand

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