Codelco Jumps up Ratings Ladder

Codelco Jumps up Ratings Ladder

Chile Corporate & Sovereign Strategy

S&P has raised the credit rating of Chile’s Codelco by two notches to AA minus from A, it says, based on a stronger expectation of government support. The upgrade reflects the change in the agency’s assessment of the link between the state-owned miner and the Chilean government, to “integral” from “very strong.” Such an assessment earns Coldeco a match of Chile’s AA minus mark. “During the past five years, we’ve seen the government's increasing involvement in Codelco's long-term strategic decisi

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