...Fitch Ratings affirmed the Foreign and Local Currency Issuer Default Ratings (IDRs) of Engie Energia Chile S.A. at `BBB' and the long-term National Scale rating at `AA¡(cl)' on June 18, 2019. The Rating Outlook is revised to Positive from Stable. Engie's ratings are supported by its solid business position in the electricity market in Chile and its strong portfolio of diversified generation assets. Fitch expects Engie to maintain adequate liquidity levels in the medium term, supported by strong and predictable cash flow. The Positive Outlook reflects Fitch's view that Engie has strengthened its credit profile within its IDR level of `BBB' based on the company's improved capital structure, strong operating performance and strong EBITDA generation in the medium term, along with the successful conclusion of its USD2.2 billion expansion plan. Fitch believes Engie will have the capacity to finance its transition toward more renewable energy generation and estimates capex of approximately USD290...
