Enel Chile S.A. And Enel Generacion Chile Downgraded To 'BBB' From 'BBB+' On Expected Higher Leverage, Outlook Stable - S&P Global Ratings’ Credit Research

Enel Chile S.A. And Enel Generacion Chile Downgraded To 'BBB' From 'BBB+' On Expected Higher Leverage, Outlook Stable

Enel Chile S.A. And Enel Generacion Chile Downgraded To 'BBB' From 'BBB+' On Expected Higher Leverage, Outlook Stable - S&P Global Ratings’ Credit Research
Enel Chile S.A. And Enel Generacion Chile Downgraded To 'BBB' From 'BBB+' On Expected Higher Leverage, Outlook Stable
Published Jan 24, 2022
4 pages (1803 words) — Published Jan 24, 2022
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

We updated our base-case scenario for the Chilean electricity utility, Enel Chile S.A., incorporating new hydrology conditions and the company's latest strategic plan for 2022-2024 announced in late 2021, which includes slightly higher-than-expected investments for the period. We now expect the company's net debt to EBITDA at 4x-5x in 2022 and 3.0x-3.5x in 2023, compared with our previous expectations of 2.8x and 2.6x, respectively. Despite leverage-reduction initiatives, Enel Chile's net debt to EBITDA will remain above 3x in 2022, which isn't in line with the 'BBB+' rating. On Jan. 24, 2022, S&P Global Ratings downgraded Enel Chile and its core subsidiary Enel Generacion Chile S.A. to 'BBB' from 'BBB+'. We also revised downwards the company's stand-alone credit profile to 'bbb'

  
Brief Excerpt:

...action can be found on S&P Global Ratings' public website at www.standardandpoors.com. Use the Ratings search box located in the left column....

  
Report Type:

Ratings Action

Ticker
ENERSICH
Issuer
Enel Chile S.A.
GICS
Electric Utilities (55101010)
Sector
Global Issuers, Structured Finance
Country
Chile
Region
Latin America
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Enel Chile S.A. And Enel Generacion Chile Downgraded To 'BBB' From 'BBB+' On Expected Higher Leverage, Outlook Stable" Jan 24, 2022. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Enel-Chile-S-A-And-Enel-Generacion-Chile-Downgraded-To-BBB-From-BBB-On-Expected-Higher-Leverage-Outlook-Stable-2789538>
  
APA:
S&P Global Ratings’ Credit Research. (). Enel Chile S.A. And Enel Generacion Chile Downgraded To 'BBB' From 'BBB+' On Expected Higher Leverage, Outlook Stable Jan 24, 2022. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Enel-Chile-S-A-And-Enel-Generacion-Chile-Downgraded-To-BBB-From-BBB-On-Expected-Higher-Leverage-Outlook-Stable-2789538>
  
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