Moody’s Ratings reaffirmed Empresa Nacional de Telecomunicaciones S.A. (Entel)’s Baa3 rating and upgraded its outlook from “negative” to “stable,” highlighting the company’s market leadership, solid financial management, and resilient operational performance in both Chile and Peru.
Moody’s Ratings reafirmó la clasificación Baa3 de Empresa Nacional de Telecomunicaciones S.A. (Entel) y mejoró su perspectiva desde “negativa” a “estable”, destacando el liderazgo de la compañía en el mercado, su sólida gestión financiera y su desempeño operacional resiliente tanto en Chile como en Perú.
According to the report, the decision reflects Entel's consistent execution of its strategy, focused on higher-value segments, cost control, and expansion in the residential market, factors that have enabled it to maintain stable results in a competitive environment.
“This assessment reaffirms the strength of our business model, financial discipline, and Entel's ability to adapt to industry challenges. We will continue to move forward with a long-term view, focused on providing the best connectivity to individuals and businesses in Chile and Peru”, said Marcelo Bermúdez, CFO of Entel.
The agency also highlighted the reduction in debt and the improvement in the company's financial profile. In the last two years, Entel has made significant payments and refinanced liabilities, which has reduced its leverage—from 3.3 times in 2023 to 2.8 times in June 2025—and extended its debt maturities until 2028.
Moody's, one of the leading international credit rating agencies responsible for assessing the financial strength and ability of companies and governments to meet their obligations, projects that the company will maintain an adjusted debt ratio of close to 2.5 times by the end of the year and EBITDA margins of around 30% over the next two years.
Finally, the agency concluded that the “stable” outlook reflects lower execution risks and a more favorable macroeconomic environment in the markets where Entel operates, which supports its ability to maintain a solid financial position and generate positive cash flows from 2025 onwards.
17 Oct, 2025
Moody’s Ratings reaffirmed Empresa Nacional de Telecomunicaciones S.A. (Entel)’s Baa3 rating and upgraded its outlook from “negative” to “stable,” highlighting the company’s market leadership, solid financial management, and resilient operational performance in both Chile and Peru.
Moody’s Ratings reafirmó la clasificación Baa3 de Empresa Nacional de Telecomunicaciones S.A. (Entel) y mejoró su perspectiva desde “negativa” a “estable”, destacando el liderazgo de la compañía en el mercado, su sólida gestión financiera y su desempeño operacional resiliente tanto en Chile como en Perú.
According to the report, the decision reflects Entel's consistent execution of its strategy, focused on higher-value segments, cost control, and expansion in the residential market, factors that have enabled it to maintain stable results in a competitive environment.
“This assessment reaffirms the strength of our business model, financial discipline, and Entel's ability to adapt to industry challenges. We will continue to move forward with a long-term view, focused on providing the best connectivity to individuals and businesses in Chile and Peru”, said Marcelo Bermúdez, CFO of Entel.
The agency also highlighted the reduction in debt and the improvement in the company's financial profile. In the last two years, Entel has made significant payments and refinanced liabilities, which has reduced its leverage—from 3.3 times in 2023 to 2.8 times in June 2025—and extended its debt maturities until 2028.
Moody's, one of the leading international credit rating agencies responsible for assessing the financial strength and ability of companies and governments to meet their obligations, projects that the company will maintain an adjusted debt ratio of close to 2.5 times by the end of the year and EBITDA margins of around 30% over the next two years.
Finally, the agency concluded that the “stable” outlook reflects lower execution risks and a more favorable macroeconomic environment in the markets where Entel operates, which supports its ability to maintain a solid financial position and generate positive cash flows from 2025 onwards.
Moody’s Ratings reaffirmed Empresa Nacional de Telecomunicaciones S.A. (Entel)’s Baa3 rating and upgraded its outlook from “negative” to “stable,” highlighting the company’s market leadership, solid financial management, and resilient operational performance in both Chile and Peru.
Moody’s Ratings reafirmó la clasificación Baa3 de Empresa Nacional de Telecomunicaciones S.A. (Entel) y mejoró su perspectiva desde “negativa” a “estable”, destacando el liderazgo de la compañía en el mercado, su sólida gestión financiera y su desempeño operacional resiliente tanto en Chile como en Perú.
According to the report, the decision reflects Entel's consistent execution of its strategy, focused on higher-value segments, cost control, and expansion in the residential market, factors that have enabled it to maintain stable results in a competitive environment.
“This assessment reaffirms the strength of our business model, financial discipline, and Entel's ability to adapt to industry challenges. We will continue to move forward with a long-term view, focused on providing the best connectivity to individuals and businesses in Chile and Peru”, said Marcelo Bermúdez, CFO of Entel.
The agency also highlighted the reduction in debt and the improvement in the company's financial profile. In the last two years, Entel has made significant payments and refinanced liabilities, which has reduced its leverage—from 3.3 times in 2023 to 2.8 times in June 2025—and extended its debt maturities until 2028.
Moody's, one of the leading international credit rating agencies responsible for assessing the financial strength and ability of companies and governments to meet their obligations, projects that the company will maintain an adjusted debt ratio of close to 2.5 times by the end of the year and EBITDA margins of around 30% over the next two years.
Finally, the agency concluded that the “stable” outlook reflects lower execution risks and a more favorable macroeconomic environment in the markets where Entel operates, which supports its ability to maintain a solid financial position and generate positive cash flows from 2025 onwards.