reports
Moody's Ratings announces completion of a periodic review of ratings o...
Moody's Ratings (Moody's) has completed a periodic review of the ratings of Empresa Nacional de Telecomunicaciones S.A. and other ratings that are associated with this issuer. The review was conducted through a rating committee held on 11 November 2024 in which we reassessed the appropriateness of ...
- Soomit Datta
ENTEL (Neutral, TP: CLP3,150, -0.3%) Entel - Better Chilean Wireless ...
Entel reported Q4s yesterday after the close. Revenue and EBITDA came in 6-7% (when removing revenue linked to the fibre sale) though this was partly driven by handset sales. Wireless service trends also beat in Chile, and were optically impressive, though in reality enjoyed a much easier comp (Q4 22); we’re not convinced the fundamentals are getting any better and we note price increases for 2024 have yet to be committed to.
- Soomit Datta
LatAm Telcos – 2024 Outlook: Top picks Brazil (TIM and Vivo) and Megac...
After strong stock performance in 2023 we think the Brazilians will continue to perform into 2024 on the back of solid wireless fundamentals: rising prices, revenue/EBITDA > inflation, falling capex/sales – and with IOC (tax) risks in the rear view for now. Shareholder returns are also sector leading whilst valuations are attractive (notably versus quickly falling rates).
Moody's affirms Empresa Nacional de Telecomunicaciones' (ENTEL) Baa3 r...
Moody's Investors Service (Moody's) today affirmed Empresa Nacional de Telecomunicaciones S.A.´s ("ENTEL") Baa3 Long-Term Issuer Rating and the Baa3 ratings for the Senior Unsecured Global Notes due 2024 and the Senior Unsecured Global Bonds due 2026. The outlook was changed to negative from stable....
- Soomit Datta
LatAm Telcos - Q4 Datafile and Review: Brazil wireless strength; cuts ...
We accompany our updated 2022 LatAm Telcos datafile with a handful of key slides highlighting: 1/ Brazil and Mexico holding up well in wireless (the smaller markets much less so), 2/ With the exception of Brazil we see pressure on fixed BB pricing across the region (and cut underlying Mexican cable valuations again), 3/ With more regulator disclosure we focus on Colombia, where competitive pressures are accelerating (relevant for AMX and Millicom).
- Soomit Datta
New Street: LILA (Buy, TP: $15, +100%) ENTEL CI (Buy, CLP4,300, +30%) ...
Expansión newspaper in Chile is reporting that Entel is selling its FTTH infrastructure (~1m HPs) to the local Telefonica / KKR JV. Following the Liberty LA / AMX deal, this would be the second major infra consolidation in a market crying out for repair; we update our map of fixed infrastructure deployment in Chile in this short note and suspect the market will likely coalesce around three infra providers (seven historically).
- Soomit Datta
New Street: Entel (Buy, TP: CLP4,300, +45%) Entel Q2s - Quick Take: P...
Entel reported Q2s last night, with revenue in-line (adjusting for a large one-off gain) but EBITDA a touch light. Trends in Peru held up pretty well, with further margin expansion, less so in Chile given inflation/data centre opex combined with a flat wireless top line. We also update on FTTH momentum in the tough Chilean fixed market.
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.