Transportadora de Gas Internacional S.A. E.S.P.#s Proposed $750 Million Senior Unsecured Notes Rated #BBB-#

Stocks and Financial Services Press Releases Tuesday April 17, 2018 12:10
MEXICO CITY--17 Apr--S&P Global Ratings

MEXICO CITY (S&P Global Ratings) April 16, 2018--S&P Global Ratings assigned today its 'BBB-' debt rating to Colombia-based natural gas transportation company Transportadora de Gas Internacional S.A. E.S.P.'s (TGI; BBB-/Stable/--) proposed $750 million senior unsecured bullet notes due up to 10 years. The company will use the proceeds from the notes to repurchase its callable $750 million outstanding notes that mature in 2022.

TGI's 'BBB-' corporate credit rating reflects the company's status as a core subsidiary of its parent, Grupo Energia Bogota S.A. E.S.P. (formerly known as Empresa de Energia de Bogota S. A. E. S. P.; EEB; BBB-/Stable/--). This reflects our view that TGI is integral to the group's current and future strategy. In addition, because there are no meaningful regulatory mechanisms or other structural barriers that restrict EEB's access to TGI's assets and cash flow, we align our corporate credit rating on TGI with that on the parent.


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