Moody's: Energest notes Baa3

Moody's America Latina Ltda. Said it assigned a Baa3 local currency issuer rating on the global scale and Aa1.br issuer rating on the Brazilian national scale to Energest SA.

At the same time, Moody's assigned a Baa3 rating on the global scale and Aa1.br rating on the Brazilian national scale to the R$120 million senior unsecured amortizing five-year debentures to be issued by Energest in the local market.

The outlook is stable.

The proceeds of the debentures will be used as a complement to the company's internal cash generation mainly to lengthen its debt profile, meet its capital expenditures program and expected high distribution of dividends, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.