Fitch upgrades EDC ratings

Credit ratings agency Fitch has upgraded the senior unsecured foreign currency rating of Venezuelan power company EDC to B- from CCC+, and its senior unsecured local currency rating to B from CCC+, Fitch said in a statement Tuesday. The outlook for both ratings is stable. The upgrade keeps track with Fitch raising the rating on Venezuela's long-term foreign and local currency ratings to B- from CCC+, which reflected the government's success in getting oil production back up to levels achieved prior to the national strike earlier this year. EDC is based in capital city Caracas and is a subsidiary of US power company AES. To see Fitch's full report on EDC, see http://www.bnamericas.com/rc_search_detail.xsql?id_documento=35760&Tx_idioma=I