...November 17, 2025 This report does not constitute a rating action. BUENOS AIRES (S&P Global Ratings) Nov. 17, 2025--S&P Global Ratings today said that following Engie Energia Chile S.A.'s solid third-quarter results, the company could outperform expectations for full-year 2025. Increased own generation, lower purchases in the spot market, and higher sales to regulated clients, together with one-off items like the favorable arbitration on gas contracts, boosted Engie Energia Chile's nine-month EBITDA to $521 million--poised to surpass our expectation of about $600 million for full-year 2025. The higher EBITDA will likely result in net leverage below 4.0x for 2025, which compares favorably with our expectation of 4.0x-4.5x. Engie Energia Chile's investment plan remains on time and on budget. Its financial strategy focuses on securing funding for capital expenditure (capex) and debt rollovers, targeting an average maturity of around five years and an affordable debt maturity schedule. The...
