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BULLETIN: Empresa Nacional De Telecomunicaciones' Sale Of U.S. Operations Won't Affect Ratings Mar 06
Standard & Poors, March 2006
Abstract
BUENOS AIRES (Standard & Poor's) March 27, 2006--Empresa Nacional de Telecomunicaciones S.A. (ENTEL; BBB+/Negative/--) recently announced the sale of its 80% stake in Americatel Corp.-a company mainly devoted to providing long-distance services to the Hispanic community in the U.S.-for a firm value of $62 million. This transaction (subject to U.S. Antitrust and Communication Authorities approval) will not affect Standard & Poor's Ratings Services' ratings on ENTEL, due to the fact that these operations are noncore for the company and that we already considered the possibility of this sale. In this sense, Americatel Corp.'s operations represented about 9% of ENTEL's sales in 2005, but only 2% of consolidated EBITDA generation....
Companies mentioned in this report are: Empresa Nacional de Telecomunicaciones S.A. (ENTEL)
Action: Bulletin
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.
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