Fitch lifts Eletropaulo

Fitch Ratings said it upgraded Eletropaulo Metropolitana de Eletricidade de Sao Paulo SA's ratings.

The outlook remains stable.

The upgrade reflects the view that the company will be able to maintain a conservative financial profile consistent with the new ratings, despite a probable tariff reduction in its upcoming regulatory review process, according to the agency.

The company has strong credit metrics for the ratings assigned, based on its robust operational cash generation, reduced financial leverage and strong liquidity position, the agency noted.

For the 12 months ended on June 30, the company reported total debt to EBITDA of 1.8 times, net debt to EBITDA of 1.4x and funds from operations adjusted leverage of 1.8x.

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