S&P: Edenor view stable

Standard & Poor's said it affirmed the B corporate credit rating on Distribuidora y Comercializadora Norte SA and changed the outlook to stable from positive.

The outlook change reflects deterioration of the business environment in Argentina during 2008, which is reflected in the high political and regulatory risk, according to the agency.

Ratings also reflect the company's relatively high capital expenditures requirement to meet growing demand for power within its service area and relatively high foreign-exchange risk, the agency noted.

Ratings are supported by Edenor's solid competitive position, its good cash flow generation and debt service coverage ratios, and its favorable debt maturity profile, S&P said.

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