Moody's ups Enersis, Endesa

Moody's Investors Service said it upgraded the senior unsecured debt ratings of Enersis SA and Endesa Chile SA to Ba1 from Ba2.

Moody's also upgraded the senior unsecured debt rating of Endesa Chile Internacional to Ba1 from Ba2, as this rating is based on the guarantee of Endesa Chile SA. The outlook is stable.

Moody's said key macroeconomic improvements and stronger financial performance at both Enersis and Endesa Chile support the ratings upgrades.

As the largest privately owned distribution and generation companies in Latin America, Moody's said Enersis and Endesa Chile benefit from the stronger growth in electricity demand that is directly related to the stronger GDP growth in the five Latin American economies in which they operate.

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