S&P: Entel unaffected

Standard & Poor's said that Empresa Nacional de Telecomunicaciones SA's (Entel, BBB+/stable) recently posted second-quarter results, registering a significant growth in net income of 57% in the half, compared to first-half 2005, will not affect the ratings on Entel.

The agency said that this mainly derives from the growth in EBITDA generation, 17% semester over semester, driven by the mobile business improvements and the positive result from the sale of its noncore operations in the United States and Central America.

S&P noted that these improvements were already incorporated in its recent change of the outlook to stable from negative due to the company's faster-than-expected recovery of its financial measures and profile, as a result of higher mobile growth rates and cash generation.

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