S&P: Endesa Chile notes BBB+

Standard & Poor's said it assigned a BBB+ long-term rating to Empresa Nacional de Electricidad SA's (Endesa Chile) upcoming $400 million senior unsecured notes.

The company's BBB+ corporate credit rating reflects its satisfactory business risk profile and intermediate financial risk profile, S&P said.

Endesa Chile has a satisfactory competitive position, which is based on the low-cost generation from its large hydropower plants, the agency said.

The company also has strong diversification, reflecting its diversified asset base in Chile, Colombia, Peru and to lesser extent, Argentina and Brazil, S&P said.

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