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The Positive Rating Outlook for AYE and Supply reflects the improving credit profiles of these issuers and Fitch's expectation that growing cash flow generation at Supply will result in improvements in consolidated credit measures. The positive ratings actions for AYE and AE Supply are based on debt reductions and increases in cash flow generation at AE Supply and reduced business risk of the group. In the aggregate, these recent developments significantly reduce the likelihood of near-term insolvency of AE Supply with adverse consequences for AYE and the affiliated companies. |
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