S&P ups Endesa Chile

Standard & Poor's said it raised its ratings on Endesa Chile to BBB+ from BBB.

The outlook is stable.

The agency added that the rating action reflects the improvement of the company's financial risk profile due to a strengthening in its cash generation, credit metrics, and cash reserves in the past two years.

S&P noted that it expects Endesa Chile's debt coverage ratios to be solid as a result of expected favorable demand for electricity in Chile, Brazil, Colombia, and Peru, and conservative commercial strategy in Chile and financial policy.

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