S&P boosts Enersis

Standard & Poor's said it raised its ratings on Enersis SA to BBB+ from BBB.

The outlook is stable.

According to the agency, the upgrade reflects the improvement of the company's financial risk profile due to a strengthening in cash generation, credit metrics and cash reserves in the past two years.

S&P noted that it expects Enersis' debt coverage ratios to be solid as a result of projected favorable demand for electricity mainly in Chile, Brazil, Colombia and Peru, lower cash flow volatility in Chilean power generation business, the relatively stable cash flow generation of the power distribution business, and the maintenance of relatively moderate leverage levels.

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