S&P maintains Caess, EEO, Deusem loan rating

Credit ratings agency Standard and Poor's (S&P) has maintained its BB+ rating on the US$120mn bank loan secured by El Salvadorian distributors Caess, EEO and Deusem, S&P said in a statement. The outlook is negative and and reflects the negative outlook on the distributors' parent, US power company AES. "Both Caess and EEO are expected to continue to be central in the country's distribution sector," S&P analyst Fabiola Ortiz said. "The challenge for the companies is to manage the regulatory process in a deregulated and privatized industry," she added.