Engie Energia Chile S.A.'s Proposed Senior Unsecured Notes For About $240 Million Rated 'BBB'

SAO PAULO (S&P Global Ratings) Aug. 28, 2024--S&P Global Ratings today assigned its 'BBB' issue-level rating to Engie Energia Chile S.A.'s (BBB/Stable/--) proposed five-year green fixed-rate bonds for up to Swiss franc (CHF) 200 million (equivalent to about $240 million) in Switzerland's stock market. The company will use the proceeds to continue investing in new renewable assets, aiming to lower its carbon dioxide emissions and to reduce its average supply cost while further diversifying its generation matrix. More precisely, Engie Chile is developing 574 megawatts of capacity in 2024, which will reduce its exposure to buying energy in the spot market. We see this transaction as neutral for our rating on Engie Chile. Our base-case scenario already incorporates these initiatives

...August 28, 2024 SAO PAULO (S&P Global Ratings) Aug. 28, 2024--S&P Global Ratings today assigned its '###' issue-level rating to Engie Energia Chile S.A.'s (###/Stable/--) proposed five-year green fixed-rate bonds for up to Swiss franc (CHF) 200 million (equivalent to about $240 million) in Switzerland's stock market. The company will use the proceeds to continue investing in new renewable assets, aiming to lower its carbon dioxide emissions and to reduce its average supply cost while further diversifying its generation matrix. More precisely, Engie Chile is developing 574 megawatts of capacity in 2024, which will reduce its exposure to buying energy in the spot market. We see this transaction as neutral for our rating on Engie Chile. Our base-case scenario already incorporates these initiatives with no impact on our existing '###' issuer credit rating. Moreover, our base-case scenario already contemplates some extra debt to finance this initiative. In our view, Engie Chile will continue...

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