Fitch changes Light view

Fitch Ratings said it affirmed Light SA and its wholly owned subsidiaries Light Servicos de Eletricidade SA and Light Energia SA's long-term local and foreign currency issuer default ratings at BB-.

The national scale ratings for the three companies were also affirmed at A+(bra).

In addition, the outlook for all the corporate ratings was revised to stable from negative.

“The revision of the outlook reflects Light group's improved financial profile due to the holding's R$1.8 billion cash inflow from its primary offering of common shares, which will bring the consolidated credit metrics more in line with the current BB- long-term issuer default ratings,” the agency said in a news release.

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