Fitch affirms Empresas Copec

Fitch Ratings said it affirmed Empresas Copec SA's foreign and local currency issuer default ratings at BBB+; senior bond line No. 623, series A and B bond program registered under line No 623, senior bond line No. 624, series C and D bond program registered under line No 624 and national scale rating at AA(cl) and equity rating at level 1.

The outlook is stable.

The ratings reflect the strong business positions and sound credit profile of the company's main operating subsidiaries Celulosa Arauco y Constitucion SA, Compania de Petroleos de Chile SA and Abastecedora de Combustibles SA, Fitch said.

As of end September, the total debt-to-EBITDA ratio was 2.5 times.

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