Moody’s revises Entel view to stable

Moody's Investors Service said it affirmed the Baa3 long-term issuer and senior unsecured ratings of Empresa Nacional de Telecomunicaciones SA (Entel) and changed the outlook to stable from negative.

Moody’s said the outlook change reflects its expectation that from 2017 through 2019, Entel's performance will be characterized by positive momentum, including expanding profitability, improved free cash flow generation and declining leverage.

The stable outlook incorporates the continued reversal of negative trends in profitability and cash generation following Entel's expansion in Peru beginning in 2013, the agency added.

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