EEB Gets Investment Grade

S&P has raised the rating of Colombia’s Empresa de Energia de Bogota (EEB) to BBB minus from BB+, it says, bringing the utility into investment grade territory. The move follows improvement to EEB’s risk profile and greater diversification. “In our opinion, the consolidation of the business strategy of EEB and its geographic reach will result in continued growth in revenue and a strong and stable profitability. We believe that this will generate stronger cash generation and better financial indicators,” says S&P. The outlook is stable.