S&P views four Chilean issuers negatively

S&P said it revised the outlooks on four Chile-based infrastructure and corporate entities to negative from stable. The issuers are Empresa de los Ferrocarriles del Estado (EFE), Sociedad Concesionaria Costanera Norte SA (Costanera Norte), Sociedad Concesionaria Autopista Central SA, and Corporacion Nacional del Cobre de Chile (Codelco).

Last Tuesday, the agency revised its outlook for Chile to negative from stable.

“The outlook revision on the sovereign ratings mainly captures the risks stemming from the weakening political consensus on key parameters of Chile's political and economic agenda. In our view, the difficulties the country has had in advancing material pieces of legislation might translate over time into weaker economic performance and prospects, as well as slower improvement in social conditions. Moreover, structurally weaker growth will continue to pressure Chile's fiscal and external profiles,” S&P said in a press release.

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