S&P downgrades Guacolda

S&P downgrades Guacolda

Corporate & Sovereign Strategy Credit Ratings S&P Global Bonds Debt Fixed Income Capital Markets Chile Energy

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

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