Moody’s ups Enel Generacion to Baa1

Moody's Investors Service said it upgraded Enel Generacion Chile SA’s senior unsecured debt ratings to Baa1 from Baa2.

The outlook is stable.

Moody’s said the upgrade recognizes maintenance of strong credit metrics and lower uncertainty over the company's long-term capital structure following the major restructuring of the Enel Group's Latin American operations in 2016, followed by the absorption of Enel Green Power Latin America SA's Chilean operations by Enel Generacion’s parent company, Enel Chile SA, in April.

The stable outlook reflects the agency’s expectation that Enel Generacion will continue to successfully execute its commercial policy and maintain a balanced financial policy, with a dividend payout ratio that does not exceed 70%.

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