Moody's: Entel view to stable

Moody's Investors Service said it changed the outlook on Empresa Nacional de Telecomunicaciones SA (Entel SA) to stable from negative and affirmed the global and national scale corporate family ratings of Ba3 and Aaa.bo.

The outlook revision follows the recent change on the Bolivia's outlook to stable from negative, the agency explained.

The stable outlook on Entel reflects the stable outlook on the ratings of the government of Bolivia, which owns 97.5% of Entel's shares, Moody's said.

The change of the sovereign outlook to stable incorporates Bolivia's stabilizing fiscal and current account deficits, which suggest that the impact of lower hydrocarbon prices on the sovereign's credit profile has been contained, the agency said.

Moody's said it expects that Bolivia's growth and fiscal and external metrics will likely remain consistent with its Ba3 rating.

Entel's ratings consider the company's operating strength among peers and strong liquidity, the agency noted.

© 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.