S&P affirms Corpoelec

Standard & Poor's said it affirmed its B ratings on Corporacion Electrica Nacional SA (Corpoelec). The outlook remains negative.

S&P's ratings on Corpoelec reflect S&P's opinion that there is an "almost certain" likelihood that its owner, the Bolivarian Republic of Venezuela (B+/negative/B), would provide timely and sufficient extraordinary support to the company in the event of financial distress. Therefore, the corporate credit rating on Corpoelec is a notch higher than its b- stand-alone credit profile.

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