Standard&Poor's said today Mirant Corp.'s (BBB-/Stable/A-3) recent sale of 82% of Empresa Electrica del Norte Grande S.A. (Edelnor, CC/Watch Neg) to FS Inversiones does not affect Edelnor's rating. As Standard&Poor's has been stating since March 2001, Edelnor is not expected to make its interest payments in March 2002 without the aid of its parent. FS Inversiones has said that it does not intend to inject cash to enable Edelnor to make the March interest payments. Since this is the same posture held by the previous owner, Edelnor's possibility of default in March of 2002 remains unchanged. Furthermore, the possibility of a potential restructuring of Edelnor's debt before the end of March 2002 also remains unchanged. Edelnor
