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Fitch Ratings Affirms AES Clesa''s Ratings.

Publication: Business Wire
Publication Date: 26-MAR-02
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Business Editors

CHICAGO-(BUSINESS WIRE)--March 26, 2002--Fitch Ratings has affirmed the 'BB+' foreign currency rating and 'BBB-' local currency rating of AES Clesa y Compania, S. en C. de C.V. (AES Clesa). The 'BB+' and 'BBB-' ratings also apply to AES Clesa's outstanding US$25 million senior notes (unenhanced) and US$40 million senior notes enhanced by political risk insurance provided by Zurich U.S. Political Risk, respectively.

AES Clesa's local currency rating is based on its low business risk profile, efficient operations, stable cash flow generation, and constructive regulatory environment. AES Clesa's regulated electricity distribution operations provide the company with a stable, predictable cash flow stream that lowers business risk and cash flow volatility.

AES Clesa's electric distribution business is essentially operated as natural...

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