January 29, 2020
Fitch Ratings said on Tuesday that it upgraded Enel Generación Chile, an electric utility company in Chile owned by Italy's Enel, to A- from BBB+, citing projections for strong earnings growth through 2022.
Fitch also said it upgraded Enel Generación's local ratings to AA+(cl) from AA(cl) and revised the outlook to stable from positive.
Enel's utility business in Chile will likely post roughly $1 billion in annual EBITDA and keep its total debt below two times EBITDA from 2020 to 2022, Fitch sai
Rating agency gives the Italian energy company's local business an A- on strong EBITDA projections