Bulletin: Engie Energia Chile's Financial Metrics Remain In Line With Our Expectations On Raising Proposed Notes To $500 Million

SAO PAULO (S&P Global Ratings) Jan. 24, 2020--S&P Global Ratings said today that its rating and outlook on Engie Energia Chile S.A. (Engie; BBB/Stable/--) are unaffected by its announcement related to the increase in the amount of its senior unsecured notes issuance to $500 million from $400 million. The company plans to use the incremental notes' proceeds to repay short-term debt, and to a lesser extent, for general corporate purposes. Our updated forecast indicates that pro forma after the issuance and given the size-up, adjusted debt to EBITDA should remain at about 2.5x, comfortably in line with our expected range for the rating. For a full credit analysis, see "Engie's Proposed Senior Unsecured Notes Of Up To $400M Rated 'BBB',

...SAO PAULO (S&P Global Ratings) Jan. 24, 2020--S&P Global Ratings said today that its rating and outlook on Engie Energia Chile S.A. (Engie; ###/Stable/--) are unaffected by its announcement related to the increase in the amount of its senior unsecured notes issuance to $500 million from $400 million. The company plans to use the incremental notes' proceeds to repay short-term debt, and to a lesser extent, for general corporate purposes. Our updated forecast indicates that pro forma after the issuance and given the size-up, adjusted debt to EBITDA should remain at about 2.5x, comfortably in line with our expected range for the rating. For a full credit analysis, see "Engie's Proposed Senior Unsecured Notes Of Up To $400M Rated '###', Existing Ratings Affirmed, Outlook Remains Stable," published Jan. 15, 2020. This report does not constitute a rating action....

Bulletin