S&P rates Entel loan BBB+

Standard & Poor's said it assigned its BBB+ senior unsecured debt rating to Empresa Nacional de Telecomunicaciones SA's (Entel) proposed $600 million five-year amortizing senior unsecured term loan facility, reflecting the corporate credit rating on the company.

At the same time, S&P affirmed its outstanding BBB+ long-term corporate credit ratings on Entel.

The outlook is negative.

S&P said the ratings on Entel reflect its good competitive position as a leading integrated telecommunications provider in Chile, efficient operations, and still-moderate debt levels. These factors are partially offset by increased competition in all segments. In addition, despite some geographic revenue diversification, Entel's cash-flow generation is still concentrated in and dependent on the domestic Chilean market, which is, however, one of the most stable marketplaces in the region.

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