Fitch affirms Eletropaulo

Fitch Ratings said it has affirmed the following ratings of Eletropaulo Metropolitana Eletricidade de Sao Paulo SA: foreign currency issuer default rating at BB-; local currency issuer default rating at BB-; long-term national-scale rating at A(bra); senior unsecured notes due 2010 at BB-; ninth issuance of debentures due 2018 at A(bra); 10th issuance of debentures due 2013 at A(bra); 11th issuance of debentures due 2018 at A(bra); and bank credit certificate due 2015 at A(bra).

The outlook remains stable.

Fitch said that the ratings of Eletropaulo reflect its adequate financial profile, moderate financial leverage and manageable debt levels.

The company holds the concession for energy distribution in the metropolitan region of Greater Sao Paulo, one of the highest per capita income areas in Brazil, the agency added.

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