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S&P lowers Brazil companies to negative view
Standard & Poors said it took various rating actions on Brazilian corporations and infrastructure entities.
The agency said it affirmed the ratings and revised the outlook to negative from stable on these companies: AmBev Companhia de Bebidas das Americas (AmBev); Atlantia Bertin Concessoes SA and its subsidiaries, Rodovia das Colinas SA and Triangulo do Sol Auto-Estradas SA; Arteris SA and its subsidiary, Autopista Planalto Sul SA; Braskem SA; CCR SA and its subsidiaries, Autoban Concessionaria do Sistema Anhanguera Bandeirantes SA, Concessionaria da Rodovia Presidente Dutra SA and Rodonorte Concessionaria de Rodovias Integradas SA; CESP Companhia Energetica de Sao Paulo; Companhia de Gas de Sao Paulo Comgas; Companhia Energetica do Ceara Coelce; Duke Energy International Geracao Paranapanema SA; Ecorodovias Concessoes e Servicos SA and Concessionaria Ecovias dos Imigrantes SA; Elektro Eletricidade e Servicos SA; Eletrobras Centrais Eletricas Brasileiras SA; Globo Comunicacao e Participacoes SA; Itaipu Binacional; Multiplan Empreendimentos Imobiliarios SA; Net Servicos de Comunicacao SA; Samarco Mineracao SA; Tractebel Energia SA; Transmissora Alianca de Energia Eletrica SA; Ultrapar Participacoes SA; and Votorantim Participacoes SA and its subsidiaries, Votorantim Industrial SA and Votorantim Cimentos SA.
The outlook revision reflects a view that these entities are currently rated at the maximum number of notches above the sovereign foreign-currency rating due to their intrinsic credit factors, sensitivity to country risk and liquidity cushion under the sovereign stress tests, S&P said.
A potential sovereign downgrade would cause the same rating action on these entities, the agency said.
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