Fitch dims on Light ratings after filing

Fitch Ratings said it downgraded the local-currency and foreign-currency long-term issuer default ratings of Light SA (Light) and its wholly owned subsidiaries Light Servicos de Eletricidade SA (Light Sesa) and Light Energia SA (Light Energia) to D from C. It also downgraded the long-term national scale ratings of these entities and their unsecured debentures to D(bra) from C(bra).

The agency affirmed unsecured bond ratings at C/RR4.

“The downgrade follows a court's decision to grant bankruptcy protection for Light SA on May 15, 2023, extending the protection to its subsidiaries,” Fitch said in a press release.

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