S&P affirms ENAP, Codelco

Standard & Poor's said it affirmed the BBB- ratings on Empresa Nacional del Petroleo (ENAP) and A ratings on Corporacion Nacional del Cobre de Chile (Codelco).

The agency said it revised the outlook on ENAP to positive from stable.

The outlook on Codelco is stable.

The affirmations and outlook upgrade follows the recent outlook revision on the Republic of Chile to positive from stable, S&P said.

The outlook revision reflects the companies' status as government-related issuers and the high likelihood that the government would provide timely and extraordinary support in case of need, the agency said.

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