Moody's gives Interchile notes Baa1

Moody's Investors Service said it gave a first-time Baa1 rating to the planned up to $1.3 billion Reg S / 144 A senior secured amortizing notes to be issued by Interchile SA.

“The Baa1 rating considers the strong features and essentiality of the project assets that consist of key transmission lines in Chile that connect power generation in the north of the country with the consumption areas in Santiago. The project also comprises an additional line connecting Lagunas and Encuentro, 9 sub-stations and more than 2,100 towers and it is fully operational,” Moody’s said in a press release.

Proceeds will be used to refinance Interchile's debt related to the construction of the project, fund certain reserve accounts, to make a distribution to the sponsor of the project, to pay for transaction fees, expenses and general purposes of the projects.

The outlook is stable.

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