New York, July 16, 2014 -- Moody's Investors Service ("Moody's") today assigned a Baa2 rating to Empresa Nacional de Telecomunicaciones S.A. ("Entel")'s proposed issuance of up to USD 800 million senior notes with amortizations of USD 400 million in 2025 and 2026. At the same time, the outlook on all ratings was changed to negative from stable.

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