Fitch rates Prolagos debentures AA(bra)

Fitch Ratings said it affirmed Aegea Saneamento e Participacoes SA's long-term foreign and local currency issuer default ratings at BB and national long-term rating at AA(bra).

The outlook was revised to stable from negative.

Fitch also affirmed the national long-term ratings of Aegea's subsidiaries Aguas Guariroba SA, Prolagos SA – Concessionaria de Servicos Publicos de Agua e Esgoto, Nascentes do Xingu Participacoes e Administracao SA and Aguas de Teresina Saneamento SPE SA at AA(bra) with stable outlooks.

At the same time, Fitch assigned AA(bra) national long-term rating to Prolagos' proposed fourth debenture issuance in the amount of R$100 million due 2024.

The agency said the outlook revision is based on a perception of enough financial headroom for the holding company to manage its capital structure at moderate levels by leveraging its main subsidiaries within the next three years.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.