NY -- Standard&Poor's CreditWire 11/13/98 -- Standard&Poor's today placed its double-'B'-plus issuer credit ratings and double-'B'-plus senior unsecured debt rating of Empresa Electrica del Norte Grande S.A. also known as Edelnor S.A. on CreditWatch with negative implications. This action reflects the potential for revenue loss as a result of the termination of a contract by Edelnor's largest client, Empresas EMEL S.A., which is the largest distributor of electricity in Chile's Northern Interconnected System (SING). Edelnor is 82% owned by Southern Energy, a subsidiary of Southern Co. (single-'A'/Stable/'A-1') Edelnor has received informal communication of the intent of EMEL's subsidiaries to terminate their contracts, which expire at the end of 2001. The company has not yet received formal
