S&P affirms Eletrobras

Standard & Poor's said it affirmed Centrais Eletricas Brasileiras SA's (Eletrobras) foreign-currency rating at BBB- and local-currency rating of BBB+.

The outlook is stable.

The agency said the company continues to report strong liquidity and a large asset base, which supports its crucial role in the energy sector.

S&P said it expects Eletrobras to continue playing an essential role in Brazil's electricity sector and continue to receive government support, despite expectations that debt will increase due to heavy capital expenditures.

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