We view ISAGEN's acquisition by Brookfield Renewables as credit neutral and expect ISAGEN to maintain its operating and financial performance in line with our projections in the next couple of years. We're affirming our 'BBB-' corporate credit rating on Colombia-based power generation company ISAGEN. The outlook remains stable, reflecting our expectation that the company's net debt to EBITDA and funds from operations (FFO) to debt will improve to 2.5x-3.0x and 25%, respectively, in the next two years, which would still be in line with our significant financial risk profile. On July 21, 2016, S&P Global Ratings Services affirmed its 'BBB-' corporate credit rating on ISAGEN, S.A. E.S.P. The outlook remains stable. The rating affirmation reflects our expectation that the company's
