Fitch rates Taesa BBB

Fitch Ratings said it assigned BBB foreign- and local-currency issuer default ratings to Transmissora Alianca de Energia Eletrica SA (Taesa), along with a national scale rating of AAA(bra).

The outlook is stable.

The ratings reflect the company's strong consolidated financial profile, characterized by stable and predictable cash flow, high operating margins and robust liquidity position, Fitch said.

Taesa's credit metrics are expected to remain strong and in line with the assigned ratings after it completes the acquisition of five transmission assets from Abengoa Group in Brazil, the agency said.

The ratings are not constrained by the credit quality of one of its main shareholders, Cemig Geracao e Transmissao SA, Fitch added.

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