S&P's Endesa Chile ratings unaffected

Standard & Poor's said its ratings on Chile-based Empresa Nacional de Electricidad SA ("Endesa Chile"; BBB-/positive) are not affected by the company's announcement that it would develop the Aysén power project through joint participation with Chilean power generator Colbún SA.

S&P said the project is in a very preliminary stage and has many undefined aspects such as the location of the power plants, the terms and conditions of the joint venture agreements and the financing plan. In addition, once the size and location of the plants are defined, Endesa Chile needs to obtain the corresponding environmental permits, which would take one or two years.

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