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Prospect News home > News index > List of issuers E > Headlines for Empresa Nacional de Telecomunicaciones SA > News item |
Fitch rates Entel notes BBB-
Fitch Ratings said it assigned a BBB- rating to Empresa Nacional de Telecomunicaciones SA's (Entel) $800 million proposed senior notes.
Net proceeds from the notes will be used to finance eligible green and social projects and to refinance 2024 and 2026 senior notes (BBB-).
Fitch currently rates Entel's foreign currency and local currency issuer default ratings BBB-/stable with a national scale rating of A+(cl).
“The ratings reflect Entel's growth and sustained profitability in Peru, as well as improved operating performance in the core Chilean mobile segment, Fitch said in a news release.
Fitch said it expects these dynamics to continue, which should contribute to steady leverage and credit metrics despite high investment requirements. The ratings also reflect Entel's increasingly diverse revenue streams.
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