S&P ups Enersis view to positive

Standard & Poor's said it affirmed its BBB- corporate credit rating on Enersis SA and revised the outlook to positive from stable, reflecting S&P's expectations that Enersis' financial profile will continue improving as a result of continuing consolidation in its investment performance, combined with further debt reduction.

In addition, the BBB- corporate credit rating on Enersis' 60% owned subsidiary, Chilean power generator Empresa Nacional de Electricidad SA (Endesa Chile), was affirmed. The outlook for Endesa Chile remains stable.

S&P said the BBB- corporate credit rating on Enersis is mainly based on its good business profile, which reflects the strong credit profile of its Chilean investments, the strong market and competitive position in the countries where it operates, and the growing demand for power within the region, partly offset by the non-investment-grade credit profile of its non-Chilean investments.

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