S&P gives EFE A+, AA-

S&P said it assigned A+ foreign-currency issuer and AA- local-currency issuer ratings to Empresa de los Ferrocarriles del Estado.

“The AA- local currency and A+ foreign currency ratings assigned to Chilean national railroad company, EFE, mainly reflect our view of the social, economic, and political importance of the company's public service mandate that together with the long record of federal government funding support, prompts us to believe that there's an almost certain likelihood that it will benefit from timely and sufficient extraordinary support from its 100% owner, the Chilean government, in the event of financial distress,” S&P said in a press release.

The outlook is negative, which reflects S&P’s outlook on Chile’s government.

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