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Home » Costa Rica News » Costa Rica Economy Prompts Negative Outlook for ICE Bonds

Costa Rica Economy Prompts Negative Outlook for ICE Bonds

Fitch Ratings has affirmed Instituto Costarricense de Electricidad y Subsidiarias’ (Grupo ICE) foreign- and local-currency Issuer Default Ratings (FC/LC IDRs) at ‘BB+’ and its National Scale ratings at ‘AAA(cri)’ and ‘AAA(slv)’. The Rating Outlook remains Negative. A complete list of rating actions follows at the end of this release. Grupo ICE’s ratings are supported by its linkage to the sovereign rating of Costa Rica (FC and LC IDRs ‘BB+’/Outlook Negative), which stems from the company’s government ownership and the implicit and explicit expectation of government support. ICE’s Negative Rating Outlook reflects the sovereign’s Negative Outlook. The company has a strong…

The post Costa Rica Economy Prompts Negative Outlook for ICE Bonds appeared first on Costa Rica Star News.

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