Fitch rates Entel notes BBB-

Fitch Ratings said it assigned a BBB- rating to Empresa Nacional de Telecomunicaciones SA's (Entel) $800 million proposed senior notes.

Net proceeds from the notes will be used to finance eligible green and social projects and to refinance 2024 and 2026 senior notes (BBB-).

Fitch currently rates Entel's foreign currency and local currency issuer default ratings BBB-/stable with a national scale rating of A+(cl).

“The ratings reflect Entel's growth and sustained profitability in Peru, as well as improved operating performance in the core Chilean mobile segment, Fitch said in a news release.

Fitch said it expects these dynamics to continue, which should contribute to steady leverage and credit metrics despite high investment requirements. The ratings also reflect Entel's increasingly diverse revenue streams.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.