Press releases

dots

November 2012


Fitch improves international rating of EEB to AAA in Colombia

Bogotá, Colombia, 02 November 2012

For a second consecutive year, Fitch Ratings improves its international rating on corporate loans to EEB, both for local and foreign currency, moving from BBB- with a stable perspective, from BB+ awarded the previous year. The rating also applies for the US$610 million Notes issued in 2011. It also increased its local rating to  AAA(col) with a stable perspective.

In a press release, the rating agency highlight EEB's financial profile as a result of an adequate and diversified investment strategy in the electricity and natural gas sectors, which have allowed the company to increase it cash flows at a greater pace than its debt.

Fitch highlighted that EEB investments have a solid competitive position, as its businesses are natural regulated monopolies. Furthermore, is expects a strengthening in loan metrics due to low indebtedness level and to the project that will come on stream in the next few years.

“These ratings reflect the stability and predictability in the generation of cash flow for shareholders”, expressed Mrs.Mónica de Greiff, CEO of EEB, headquarters to Grupo Energía de Bogotá.  She also expressed her optimism regarding the consolidation of the project the Group currently executed in Colombia, Per and Guatemala, and reminded about the positive results as of September this year, when the company's net profit grew 181%.

EEB's excellent results and its affiliate companies have also been acknowledged by other international rating agencies, Moody’s y Standard & Poor’s, which recently rated the company in investment grade. 

About Grupo Energía de Bogotá

Grupo Energía de Bogotá is a leading corporation in the Colombian energy sector. Through EEB, it transports electricity to a market enjoying one of the largest demand in the country and greatest in size, in addition it has control of the largest natural gas carrier in the country, TGI S.A.  In Perú, its company CONTUGAS has a 30 year concession for the transportation and distribution of natural gas in the Ica Department, while CALIDDA is in charge of distributing natural gas in Lima and Callao. In that same country, ISA, participates in REP S.A. and TRANSMANTARO S.A., which operate 63% of the electricity transmission system in the country. In 2010, it incorporated TRECSA - Transportadora de Centroamérica S.A.- that will build the most important energy infrastructure project in Guatemala and will render electricity transmission services as of 2013.  In addition, it holds a portfolio of significant investments in larger companies in the energy sector, amongst which the following stand out CODENSA S.A., EMGESA S.A., GAS NATURAL S.A., Empresa de Energía de Cundinamarca - EEC and Electrificadora del Meta, EMSA and in a lesser scale ISA and ISAGEN.

Mayor información
Saray Méndez
3268000
Cel. 3214928624
smendez@eeb.com.co

application/pdfDOWNLOAD (227.93 kB)