Moody's rates EDP Ba2

Moody's America Latina said it assigned senior unsecured corporate family ratings of Ba2 on its global scale and Aa3.br on its Brazilian national scale rating to EDP - Energias do Brasil SA.

The outlook is stable.

The agency said the Ba2 rating combines EDP's overall strong debt protection metrics and good liquidity position with the fact that most of its consolidated revenues are derived from regulated activities based on long-term concession contracts that benefit from monopolistic market positions despite uncertainties related to the Brazilian regulatory environment for power utilities.

The rating also benefits from a one-notch uplift on the global scale from the majority ownership by EDP - Energias de Portugal (A2/under review for possible downgrade), Moody's said.

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