Fitch upgrades Caess rating
Bnamericas Published: Friday, December 12, 2003
The Central American office of credit ratings agency Fitch Ratings has upgraded the rating of El Salvadorian distributor Caess to A(slv) from A-(slv), Fitch said in a statement Thursday. The upgrade was based on higher levels of liquidity, improved financial flexibility, projections for 2003-2005 and the adoption of a more conservative dividends policy, Fitch said. Caess is a subsidiary of US power company AES, and serves 467,000 clients in a 4,284 sq. km. concession area that covers Chalatenango, Cuscatlan and Cabanas departments, as well as the northern part of capital city San Salvador. To read Fitch's report on Caess in full, paste the following link into your browser: http://www.bnamericas.com/rc_search_detail.xsql?id_documento=42622&Tx_idioma=E
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