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Fitch upgrades ICE in Costa Rica

Fitch upgrades ICE in Costa Rica

March 8, 2023 | Hernán Goicochea
Rating agency bumps up the state-owned electric utility company to BB- after lifting the sovereign rating last week.

Credit Ratings Fitch Ratings Central America Costa Rica Capital Markets Electricity Telecoms

Fitch Ratings said it upgraded Costa Rica's state-owned electric utility company Instituto Costarricense de Electricidad (ICE) by one notch to BB- with a stable outlook after it improved the sovereign rating last week.  "ICE is a strategic asset to the country due to its essential role in the domestic electricity market and it is the incumbent participant in the telecommunications sector, which is an incentive for the government to support the company if necessary," Fitch said in a report on Mon

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