Isagen Gets I-Grade Mark from S&P

S&P has assigned a BBB minus rating to Colombia’s Isagen, it says. The agency notes the power generation company’s sound financial metrics, strong competitive position and prudent debt management. It also highlights Colombia’s favorable institutional and regulatory frameworks, as well as likely government support in the event of financial distress. The outlook is stable. Isagen has yet to issue in the international bond markets, but has said it would like to make an approximately $500m debut likely in 2012.