S&P affirms Endesa Chile

Standard & Poor's said that it affirmed the BBB+ ratings, including the corporate credit and senior ratings, on Empresa Nacional de Electricidad SA.

The outlook is stable.

The ratings on Endesa Chile continue to reflect the company's satisfactory business risk profile and modest financial risk profile, the agency said.

The company's leading market position in the Chilean Interconnected Central System and the benefits from a favorable regulatory and pricing environment for power generation in Chile support Endesa Chile's satisfactory business risk profile, the agency added.

However, its high exposure to hydrology risk and investments in lower-rated countries than Chile in Latin America, which provide some diversity but expose the company to greater economic volatility, counterbalance the positive factors, S&P said.

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