Moody's ups Duke, rates debt Baa3, Aaa.br

Moody's America Latina said it assigned a Baa3 rating on the global scale and an Aaa.br on the national Brazilian scale to the R$500 million in unsecured amortizing debentures that Duke Energy International Geracao Paranapanema SA will issue in the local market.

At the same time, Moody's affirmed Duke's Baa3 issuer rating on the global scale and upgraded Duke's issuer rating on the Brazilian national scale to Aaa.br from Aa1.br.

Moody's also upgraded the ratings of the following debentures on the Brazilian National Scale to Aaa.br from Aa1.br: R$186 million (principal and interest) expiring in September 2013 and September 2015; and R$152 million (principal and interest) expiring in January 2017.

Moody's said the Baa3 and Aaa.br issuer ratings reflect Duke's strong credit metrics for the rating category along with its stable and predictable cash flow, which is supported by medium-term generation supply contracts in both the regulated and free markets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.