...Fitch Ratings affirmed Corporacion Nacional del Cobre de Chile's (Codelco) Long-Term Foreign Currency Issuer Default Rating (IDR) at `A', Long-Term Local Currency IDR at `A' and National Scale Rating at `AAA(cl)'. The Rating Outlook is Stable. The ratings are one notch below the sovereign ratings of Chile (A/Stable) based on Fitch's Government-Related Entities Rating Criteria (GRE). The notching reflects Fitch's assessment of the status, ownership and control links between Codelco and the state, as well as the support track record and expectations as very strong. Fitch estimates the financial implication of the GRE's potential default as strong, while its sociopolitical implications as moderate....
