AES Gener Gets Investment Grade

Moody’s and Standard & Poor’s have both awarded AES Gener, the Chilean subsidiary of AES of the US, investment-grade status. Moody’s also upgraded the notes of its wholly-owned subsidiary, Colombian AES Chivor & CIA to Baa3 senior unsecured and Ba2 senior secured, respectively. Chivor’s corporate family rating was also upgraded to Ba2. The rating outlook for Gener and Chivor is stable. Moody’s raised its rating to Baa3 from Ba1, while S&P awarded it BBB minus. The upgrade will allow AES Gener to access more flexible financing and help with its expansion plans, said the company.