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Moody’s acts on Brazilian infrastructure issuers
Moody's America Latina said it took actions on several infrastructure issuers operating in Brazil following the April 9 outlook change on the Government of Brazil to stable from negative and the affirmation of its Ba2 issuer and senior unsecured ratings.
Moody's said the action on Brazil's government issuer rating reflects the strengths of Brazil's credit profile despite relatively weak fiscal metrics. The sovereign's weak fiscal metrics are balanced against moderately strong economic and institutional factors that are in line with regional and Ba-rated global peers, with much lower external vulnerability.
The agency upgraded the corporate family ratings of the following issuers to Ba1/Aaa.br from Ba2/Aa1.br: Empresa Amazonense de Transmissao de Energia SA; Empresa Catarinense de Transmissao de Energia SA; Empresa Norte de Transmissao de Energia SA; Empresa Paraense Transmissao Energia SA; Transmissora Alianca de Energia Eletrica SA; and Rio Paranapanema Energia SA.
EDP Sao Paulo Distribuicao de Energia SA’s corporate family rating and senior unsecured ratings were upgraded to Aa1.br from Aa2.br on the Brazilian national scale. The global scale rating remains Ba2.
Energisa SA’s senior unsecured national scale rating was lifted to A1.br from A2.br.
The outlooks on AES Tiete Energia SA, Cea I - Centrais Eolicas Assurua I Spe S/A, Cea II - Centrais Eolicas Assurua II Spe S/A, Companhia de San Bas do Estado de Sao Paulo, Companhia de Saneamento do Parana – Sanepar, Concessao Metroviaria do Rio de Janeiro SA, Concessionaria de Rodovias Integradas do Oeste SA (SPVias); CPFL Energia SA, EDP - Energias do Brasil SA, EDP Espirito Santo Distribuicao de Energia SA, EDP Sao Paulo Distribuicao de Energia, Energest SA, Energisa, Lajeado Energia SA, Linha Amarela SA, Omega Energia e Implantacao 2 SA and Rio Parana Energia SA were revised to stable from negative.
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