Month: January 2011

Fitch Says the Electric Sector is Moving Forward

The risk grading agency Fitch Ratings affirmed that in the country are being applied a series of sector policies that aim towards the beginning of what is expected to be a recovery headed at the sustainability of the electrical sector.

The consideration issued by the entity if registered in a document featuring information on the improvement in grading of the electrical generation companies AES Dominicana, EGE Haina and ITABO, which all went from B- to B, respecting their long-term debt.

Fitch Ratings indicates that the improvement ratings-wise of these companies, has been produces at a moment amid which the Government has set in motion a series of trending changes aimed at strengthening the operational and financial viability of the electric industry.

“In general, the generation companies have benefited from the recent implementation of the “stand by” agreement with the IMF, which includes some changes in the structural policies aimed a fortifying the functioning of the sector and its financial results” they state.

About EGE Haina:

EGE Haina is a company in the Energy and Industry portfolio of assets administered by VICINI.

The VICINI family has invested in different economic sectors in the Dominican Republic for over 140 years. VICINI is one of the companies that has contributed significantly to the development and industrialization of the country.

SOURCE: Listin Diario

Fitch Ratings Sees Positive Changes for Electric Sector

The risk qualifying agency Fitch Ratings affirmed that in the country there are several sector policies being applied that are paving the way towards what is foreseen as recuperation towards the sustainability of the electric sector.

The consideration of the entity is registered in a document containing information about the improvement ratings-wise of the electrical generation companies AES Dominicana, EGE Haina and Itabo, whom increased from B- to B respecting their long-term debt.

Fitch indicates that the improvement in the grading for each company has been produced amid a time in which the Government has set forth a series of changes tending to strengthen the operational as well as financial viability of the electric industry.

“In general, the electrical generation companies have benefited from the recent implementation of the “stand by” accord with the International Monetary Fund (IMF), which includes some changes in the structural policies aimed at fortifying the functioning of the sector and its financial results”, states the report.

Fitch added that in particular, the Government has kept up to date respecting its payments to all generators.

IN 2012

Fitch adds that it will continue monitoring closely the functioning of the electrical sector. They say that 2012 will be a critical year for the industry, due to the termination of the agreement with the IMF and the political transition that could cause the undoing of the achieved advances.

About EGE Haina:

EGE Haina is a company in the Energy and Industry portfolio of assets administered by VICINI.

The VICINI family has invested in different economic sectors in the Dominican Republic for over 140 years. VICINI is one of the companies that has contributed significantly to the development and industrialization of the country.

SOURCE: Hoy