S&P: Enersis unaffected

Standard & Poor's said Enersis SA's (BBB-/stable/--) announcement that its net income was 36.3% higher year-on-year as of September does not affect the ratings or outlook on the company.

S&P said the higher profitability results mainly from the combined affect of the good performance of Enersis' Colombian subsidiaries and, to a lesser extent, of its 658-megawatt Brazilian power generator Cachoeira Dourada SA and its Argentine distribution company Empresa Distribuidora Sur SA and the 17.7% decrease in interest expenses mainly deriving from lower average financial debt.

S&P said it will continue to evaluate the positive trend in Enersis' financial performance as a result of the projected improvement of its 60%-owned Empresa Nacional de Electricidad SA (BBB-/stable/--).

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