Empresa Nacional de Telecomunicaciones S.A. (ENTEL) Bank Loan Rated 'BBB+" Jun 05
Standard & Poors, June 2005
Abstract
BUENOS AIRES (Standard & Poor's) June 10, 2005--Standard & Poor's Ratings Services said today that it assigned its 'BBB+' senior unsecured debt rating to Empresa Nacional de Telecomunicaciones S.A.'s (ENTEL) proposed $600 million five-year amortizing senior unsecured term loan facility, reflecting the corporate credit rating on the company. At the same time, Standard & Poor's affirmed its outstanding 'BBB+' long-term corporate credit ratings on ENTEL. The outlook is negative. "The rating assigned to the loan reflects ENTEL's solid debt repayment capacity based on a good projected free cash-flow generation that is commensurate with its maturity schedule. Since the facility is unsecured, the lenders will rank pari passu with other senior creditors in the event of default. Nevertheless, given ENTEL's sizable...
Companies mentioned in this report are: Empresa Nacional de Telecomunicaciones S.A. (ENTEL)
Action: Affirmed
Action: New Rating
Action: Outlook: Negative
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Empresa Nacional de Telecomunicaciones S.A. (ENTEL)
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