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|Beta (5Y Monthly)||N/A|
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Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Enel Generacion Chile S.A. New York, March 25, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Enel Generacion Chile S.A. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Moody's Investors Service ("Moody's") assigned a Baa2 first-time Issuer Rating to Enel Chile S.A. The outlook is stable. At the same time, Moody's assigned a rating of Baa2 to the up to $1.0 billion proposed senior unsecured notes due 2028. The proceeds of the issuance will be used to refinance outstanding borrowings, the proceeds of which were used to fund the acquisition of minority shares of its subsidiary Enel Generacion Chile S.A. (Enel Generacion, Baa1 stable) as part of the corporate reorganization concluded in April 2018, which included the incorporation of a new subsidiary Enel Green Power Chile S.A. (EGP Chile).
Moody's Investors Service ("Moody's") upgraded today the senior unsecured debt ratings of Enel Generacion Chile S.A. (EOCC) to Baa1 from Baa2. The upgrade recognizes maintenance of strong credit metrics and lower uncertainty over the company's long term capital structure following the major restructuring of the Enel Group's Latin American operations in 2016, followed by the absorption of Enel Green Power Latin America S.A.'s (EGPLA) Chilean operations by EOCC's parent company Enel Chile S.A., in April 2018.