S&P gives Endesa Chile loan BBB-

Standard & Poor's said it assigned its BBB- rating to Empresa Nacional de Electricidad SA's (Endesa Chile) $200 million revolving credit facility.

The credit facility has a final maturity in 2011 and was subscribed at Libor plus 30 basis points, the agency noted.

The agency also said it affirmed its BBB- corporate credit rating on Endesa Chile.

The outlook remains positive.

S&P added the ratings on Chile's largest power generator, Endesa Chile, reflect the relatively strong business profile of its Chilean power generation assets.

This is partly offset by investments in power generation in weaker economies in Argentina, Brazil, Colombia and Peru, which provide some diversity, but expose the company to greater economic and financial volatility, S&P said.

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