Moody’s affirms Statkraft Energias

Moody’s Investors Service said it affirmed the corporate family ratings of Statkraft Energias Renovaveis SA at Ba3 on the global scale and A1.br in the national scale.

The outlook is stable.

The agency said the affirmations follow the announcement that Statkraft Energias will acquire eight small operating hydropower plants from EDP - Energias do Brasil for a total amount of R$704 million.

“The affirmation of SKER's Ba3/A1.br ratings considers that the company's credit metrics have improved significantly since Statkraft AS (Baa1, stable), a leading power generator with focus in renewable energy, took control of the company in July 2015,” Moody’s said in a news release.

“The Norwegian shareholders have demonstrated a clear commitment to support their Brazilian subsidiary through capital increases and improvements in its corporate governance standards.”

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