S&P assigns Entel loan BBB+

Standard & Poor's said it assigned its BBB+ foreign currency rating to Empresa Nacional de Telecomunicaciones SA's (Entel) $600 million syndicated bank loan disbursed on Aug. 13.

The facility was applied to refinance an existing loan, the agency noted.

At the same time, S&P said it affirmed its BBB+ corporate credit rating and senior unsecured debt rating on Entel.

The outlook is stable.

The agency added that the ratings on Entel reflect its good competitive position as a leading, integrated telecommunications provider in Chile, its efficient operations and moderate debt levels while these factors are partially offset by high competition in all segments.

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