S&P lowers Enersis Americas

Standard & Poor’s said it lowered the corporate credit rating on Enersis Americas SA to BBB from BBB+, along with its senior unsecured debt rating to BBB from BBB+.

The agency also said it removed all of the ratings from CreditWatch, where they were placed with negative implications in November.

The outlook is negative.

S&P also said it affirmed the BBB+ corporate credit and senior unsecured ratings on Empresa Nacional de Electricidad SA (Endesa Chile).

The outlook on Endesa Chile is stable.

As a result of a spin-off from Enersis SA, Enersis Americas has more exposure to markets with higher volatility, particularly in Brazil, S&P said.

This results in a BBB stand-alone credit profile, the agency said.

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