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Fitch Downgrades C.A. La Electricidad de Caracas (EDC) IDRs to 'B+'; Outlook Stable.

Publication: Business Wire
Publication Date: 16-DEC-08
Format: Online
Delivery: Immediate Online Access

Article Excerpt
CHICAGO -- Fitch Ratings has downgraded the foreign and local currency Issuer Default Ratings (IDRs) of C.A. La Electricidad de Caracas (EDC) to 'B+' from 'BB-'. This rating action follows Fitch's downgrade of the sovereign IDRs of the Bolivarian Republic of Venezuela to 'B+' from 'BB-' on Dec. 15. Fitch has also downgraded the USD650 million of senior unsecured notes due in 2018 and the outstanding portion of the USD260 million of notes due 2014 to 'B+' from 'BB-'. These notes have been assigned a Recovery Rating of...

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