Moody's assigns Light notes Ba3

Moody's Investors Service said it assigned a Ba3 global scale rating to the $600 million of senior

unsecured notes to be issued by Light Servicos de Eletricidade SA (Light SESA) and Light Energia SA (Light Energia) due in 2026.

The Ba3 rating is in line with holding company Light SA's corporate family rating and with the current senior unsecured ratings at Light Energia and Light SESA, the agency said.

Light SESA will offer $400 million and Light Energia $200 million with a corporate guarantee from the holding company.

The proceeds will be used to refinance the 2023 notes and the remainder, if any, for general corporate purposes, including the repayment of other indebtedness.

“While issued in U.S. dollars, the proposed notes will be fully hedged against foreign-currency risk through derivative arrangements,” Moody’s said in a press release.

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