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Moody's may lift Enersul
Moody's America Latina said it placed Empresa Energetica do Mato Grosso do Sul SA - Enersul's Ba3 global local-currency and A2.br Brazilian national scale corporate family ratings and R$250 million senior unsecured local-currency debentures due 2011, also rated Ba3 and A2.br, under review for possible upgrade.
The agency said the review was prompted by the company's overall improved debt protection metrics and liquidity position, including funds from operations to total adjusted debt of 51% and cash position plus free cash flow to short-term adjusted debt of over 130% at Dec. 31.
Moody's review will focus on Enersul's ability to sustain its credit metrics and liquidity position in the near and intermediate term while executing mandatory investments.
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