Fitch Raises Emgesa

Fitch has raised the rating of Colombian generation company Emgesa to BBB from BBB minus, it says. “The rating action reflects the strong financial performance of the company, robust cash flow generation and the expectation of a moderate to low financial leverage after the Quimbo project begins operations in 2015,” Fitch says. The 400-megawatt Quimbo hydroelectric plant is expected in commercial operation by 2015. The outlook is stable.