Fitch affirms LanChile ratings

Fitch Ratings said it has affirmed the senior unsecured foreign currency debt rating at BBB- for LanChile SA.

Fitch also maintains an A- rating on LanChile's Pelican Series 1999-1 trust notes, which reflects a surety bond provided by Centre solutions Ltd., and a BBB- rating on LanChile's receivables-backed notes.

Fitch has changed the outlook to stable from negative.

Fitch said the rating action is supported by LanChile's solid business position in both passenger and cargo routes, its fleet flexibility, a solid financial profile and strong liquidity. Despite challenging industry conditions and weak demand in Chile and abroad over the past few years, LanChile has performed profitably by successfully managing capacity, costs and aircraft utilization.

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