Moody's lifts Aegea view to stable

Moody's Investors Service said it affirmed the Ba2 rating on the global scale of the $400 million senior unsecured notes issued by Aegea Finance Sarl and guaranteed by Aegea Saneamento.

The agency also said it affirmed the Ba1 global scale corporate family rating on Aegea.

The outlook was revised to stable from negative.

This action follows a recent decision to change Brazil's sovereign bond outlook to stable from negative, which is based on the strengths of Brazil's credit profile despite relatively weak fiscal metrics, Moody's said.

The sovereign's weak fiscal metrics are balanced against moderately strong economic and institutional factors that are in line with regional and Ba-rated peers with much lower external vulnerability, the agency added.

Aegea's corporate family rating reflects its stable profile business, solid positioning and relatively strong pricing power, Moody's said.

The company also benefits from very limited competition, the agency said.

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