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Bulletin: Telef?nica M?viles Chile's $213 Mil. Debt Issuance Has No Rating Impact Nov 11
Standard & Poors, Nov 2011
Abstract
BUENOS AIRES (Standard & Poor's) Nov. 24, 2011--Standard & Poor's Ratings Services said today that its ratings and outlook on Chile-based mobile telecom provider Telef-nica M-viles Chile S.A. (Telef-nica M-viles; BBB+/Stable/--) are not affected by the company's debt issuance of approximately $213 million. This is because we consider Telef-nica M-viles' total debt, including this new issuance, to be commensurate with the rating. Telef-nica M-viles has recently announced the placement of two bonds: a Chilean peso-denominated five-year bond with a 6.59% yield; and a five-year bond denominated in inflation-indexed peso units with a 3.69% yield. We understand that the company intends to apply the proceeds to refinance existing debt and for capital investments. The new issuance represents an increase of 34%...
Companies mentioned in this report are: Telefonica Moviles Chile S.A.,Telefonica Chile S.A.
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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