BUENOS AIRES (Standard&Poor's) Dec. 19, 2007--Standard&Poor's Ratings Services raised the ratings on Empresa Eléctrica del Norte Grande S.A. (Edelnor) to 'BB-' from 'B+' mainly due to the company's improved financial risk profile, which is partly evidenced by its significantly higher debt-service coverage ratios and its $66 million cash reserves as of Sept. 30, 2007. The outlook is positive, reflecting expected good and more stable cash flow generation in the next two years partly as a result of its increased medium- and long-term power sale contracts at relatively high prices. The ratings on Edelnor mainly reflect its highly volatile cash flow generation and market environment in which the company operates. These weaknesses are partly offset by Edelnor's
