Research Update: Empresa Nacional del Petroleo 'BBB-' Ratings Affirmed; Outlook Remains Stable - S&P Global Ratings’ Credit Research

Research Update: Empresa Nacional del Petroleo 'BBB-' Ratings Affirmed; Outlook Remains Stable

Research Update: Empresa Nacional del Petroleo 'BBB-' Ratings Affirmed; Outlook Remains Stable - S&P Global Ratings’ Credit Research
Research Update: Empresa Nacional del Petroleo 'BBB-' Ratings Affirmed; Outlook Remains Stable
Published Jun 29, 2017
7 pages (2336 words) — Published Jun 29, 2017
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

The ratings on Chile-based refinery ENAP reflect our expectation of a very high likelihood of extraordinary and timely support from the sovereign in case of financial distress. We're affirming our 'BBB-' ratings on the company. The stable outlook reflects our view that the company will continue to play a very important role in Chile's energy policy and maintain its very strong link to the government. In addition, it incorporates our expectation of high leverage in the next two years due to its ambitious investment plan. On June 29, 2017, S&P Global Ratings affirmed its 'BBB–' ratings on Empresa Nacional del Petróleo (ENAP). We also kept the company's 'b' stand-alone credit profile (SACP) unchanged. The outlook on the corporate credit rating

  
Brief Excerpt:

...+ The ratings on Chile-based refinery ENAP reflect our expectation of a very high likelihood of extraordinary and timely support from the sovereign in case of financial distress. + We're affirming our '###-' ratings on the company. + The stable outlook reflects our view that the company will continue to play a very important role in Chile's energy policy and maintain its very strong link to the government. In addition, it incorporates our expectation of high leverage in the next two years due to its ambitious investment plan....

  
Report Type:

Research Update

Ticker
1030Z@CI
Issuer
GICS
Integrated Oil & Gas (10102010)
Sector
Global Issuers, Structured Finance
Country
Region
Latin America
Format:
PDF Adobe Acrobat
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Empresa Nacional del Petroleo 'BBB-' Ratings Affirmed; Outlook Remains Stable" Jun 29, 2017. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Empresa-Nacional-del-Petroleo-BBB-Ratings-Affirmed-Outlook-Remains-Stable-2034992>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Empresa Nacional del Petroleo 'BBB-' Ratings Affirmed; Outlook Remains Stable Jun 29, 2017. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Empresa-Nacional-del-Petroleo-BBB-Ratings-Affirmed-Outlook-Remains-Stable-2034992>
  
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