Paraguay has just been updated to investment grade by S&P. This follows a similar move by Moody's. While this will not materially impact the debt funding for ATOME’s 145MW Villeta project, we see it as an important recognition of confidence in the economy of the country. More importantly we also see it as likely to make funding for future projects more competitive. With the 300MW Yguazu project still to be financed this is especially relevant.
