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Moody's affirms ENAP at Baa3
Moody's Investors Service said it affirmed Empresa Nacional del Petroleo (ENAP)’s Baa3 global scale foreign currency rating, following Moody's decision to change the outlook on the government of Chile's Aa3 rating to negative from stable on Aug. 24.
Moody's maintained ENAP's baseline credit assessment at b2.
The outlook is stable.
The agency said ENAP's Baa3 rating and b2 baseline credit assessment are based on the company's long operating history, high market share in Chile and increasing business diversity.
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