...Fitch Ratings affirmed the Foreign and Local Currency Issuer Default Ratings (IDRs) and the unsecured international bond of Colbun S.A. (Colbun) at `BBB', and simultaneously upgraded the long-term National Scale Rating to `AA¡(cl)' from `A+(cl)'. The Rating Outlook is Stable. The upgrade on the National Scale Rating reflects Fitch's view that Colbun has strengthened its credit profile within its IDR level of `BBB'. This is based on the expectation that the company will maintain sound operating cash flow, a conservative capital structure, robust liquidity position and manageable debt maturity profile during the next four years. Fitch believes the company has sustainably resumed its capacity to generate strong cash flow from operations from its balanced contractual position....
