S&P cuts Inversiones Latin America Power

S&P said it downgraded its rating on Inversiones Latin America Power Ltda.’s $412 million senior secured notes due 2033 to BB+ from BBB- and also removed the rating from CreditWatch negative.

“We now believe that regulated energy demand in Chile will fall 20% for 2022-2027, in line with Comisíon Nacional de Energia's (the regulator's) December 2019 estimates for the demand in the Chilean electricity system,” said S&P in a press release.

The outlook is negative.

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