S&P: Ampla Energia notes brAA-

Standard & Poor's said it affirmed the BB global scale and brAA- national scale corporate credit ratings on Ampla Energia e Servicos SA.

The agency also said it assigned a brAA- national scale rating to the upcoming senior unsecured debentures, which will total up to R$400 million and will be issued by Ampla in two series.

The outlook remains stable.

The ratings reflect the notes pari passu ranking to the company's other senior unsecured debt obligations, S&P said.

The ratings reflect Ampla's somewhat weak operations, high level of electricity losses and past-due receivables, less than adequate liquidity and large capital expenditures that pressure the company's free cash flow generation, the agency said.

Partly offsetting these risks are Ampla's adequate credit metrics resulting from rising consumption in its concession area and stable debt levels, S&P 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.