July 14, 2022 |
S&P Global Ratings has downgraded Chilean power transmission company Guacolda Energía by one notch to B- with a negative outlook due to a wider-than-expected cash deficit.
Market volatility and high coal prices have increased Guacolda's need for working capital, reducing its cash balance for the year and weakening its ability to pay off bonds that mature in April 2025, S&P said in a report on Monday.
Originally, the company was expected to face a cash deficit of roughly $150 million to r
Rating agency cuts the Chilean power transmission company by one notch due to a wider-than-expected cash deficit