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Fitch Places AES Gener's Ratings on Watch Negative.

Publication: Business Wire
Publication Date: 26-JUN-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
SANTIAGO, Chile -- Fitch Ratings has placed AES Gener's (Gener) ratings on Rating Watch Negative, as follows:

--Foreign Currency Issuer Default Rating (FC IDR) 'BBB-';

--Local Currency Issuer Default Rating (LC IDR) 'BBB-';

--US$ 400 million, 2014 notes 'BBB-',

--UF$4.4 billion notes N, 2028 rated 'A(cl)';

--UF$1.2 billion notes O, 2015 'A(cl)';

--US$196 million notes Q, 2019 'A(cl)'.

Approximately US$ 817 million of local and international bonds are affected.

The rating action follows the Chilean Supreme Court decision on June 22, 2009 to revoke the environmental impact approval (EIA) for the approximately US$500 million Campiche...

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