Engie Energia Chile S.A. 'BBB' Ratings Affirmed, Outlook Remains Stable

We expect Chile-based power generator Engie Energia Chile to maintain its prudent financial strategy and robust operating performance. We're affirming our 'BBB' ratings on the company and on its senior unsecured notes. The stable outlook reflects our expectations that Engie Chile will generate EBITDA of about $350 million in 2018, thanks to its strong contracted nature, and approaching $450 million afterwards due to the ramp-up of the PPAs with distribution companies and the entrance into operations of the new coal fired plant by the end of 2018. The outlook also reflects our expectation that debt to EBITDA won't exceed 3x in the next two years. SAO PAULO (S&P Global Ratings) July 30, 2018--S&P Global Ratings affirmed its 'BBB' ratings on

...+ We expect Chile-based power generator Engie Energia Chile to maintain its prudent financial strategy and robust operating performance. + We're affirming our '###' ratings on the company and on its senior unsecured notes. + The stable outlook reflects our expectations that Engie Chile will generate EBITDA of about $350 million in 2018, thanks to its strong contracted nature, and approaching $450 million afterwards due to the ramp-up of the PPAs with distribution companies and the entrance into operations of the new coal fired plant by the end of 2018. The outlook also reflects our expectation that debt to EBITDA won't exceed 3x in the next two years. SAO PAULO (S&P Global Ratings) July 30, 2018--S&P Global Ratings affirmed its '###' ratings on Engie Energia Chile S.A. and on its senior unsecured bonds. The outlook remains stable. The affirmation reflects our expectation that Engie Energia Chile will continue to benefit from its long-term power purchase agreements (PPAs) with solid counterparties...

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