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Research Update: Empresa Nacional de Telecomunicaciones S.A. (ENTEL) May 04 Product Image

Research Update: Empresa Nacional de Telecomunicaciones S.A. (ENTEL) May 04

  • Published: May 2004
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services raised its long-term corporate credit rating on Empresa Nacional de Telecomunicaciones S.A. (ENTEL) to 'BBB+' from 'BBB'. The outlook is stable. The upgrade reflects improvements in ENTEL's financial performance as a result of efficiencies achieved since 2002, a solid mobile business, lower investment needs, and a gradual decline in indebtedness levels. The upgrade also incorporates Standard & Poor's expectations that ENTEL will apply its cash holdings and part of the cash generation to continue to reduce debt levels-paying down most of the $145 million short-term maturities as of March 2004-and that there will not be extraordinary acquisitions or investments in the short-to-medium term. The ratings on ENTEL reflect its good competitive position as the second-largest...

Companies mentioned in this report are: Empresa Nacional de Telecomunicaciones S.A. (ENTEL)
Action: Outlook: Stable
Action: Upgraded

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Empresa Nacional de Telecomunicaciones S.A. (ENTEL)

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