2007's Top 5 Credit Factors For Corporate Credit Quality In Chile Feb 07

Standard & Poors, February 2007

Abstract
Chile's solid economic performance, stable indicators, and reliable institutional framework have shaped the country's corporate sector during the past decade. The fate of most major corporations is tied to the changes in the global economy, especially the evolution of commodities in general and copper, in particular. Nevertheless, prudent financial policies and cash management as well as good access to credit have allowed most players to grow and withstand external shocks, while maintaining their strong creditworthiness through the cycle. These characteristics are, of course, reflected in the rating profile of Chilean corporations. Of the 32 corporates in Chile that Standard & Poor's Ratings Services rates, 84% are rated at the investment-grade level ('BBB-' and above) and 89% have stable outlooks. This...

Companies mentioned in this report are: Celulosa Arauco y Constitucion S.A.,Corporacion Nacional del Cobre de Chile

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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

Celulosa Arauco y Constitucion S.A.,Corporacion Nacional del Cobre de Chile

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