Moody's rates Brennand Ba3

Moody's America Latina said it assigned Ba3 local currency corporate family ratings on the global scale and A3.br on the Brazilian national scale to Brennand Energia SA and Brennand Investimentos SA.

The outlook is stable.

Moody's withdrew the provisional B1/Baa1.br ratings assigned to 14-year debentures that were to be issued by Brennand Energia (R$110 million) and Brennand Investimentos (R$55 million), which have been interrupted with no expectation to be resumed in the short-term, as informed by management.

Moody's said the ratings reflect the companies' proven expertise on the construction and operation of small hydro facilities and the relatively stable and predictable cash flows based on existing medium to long-term electricity supply contracts, mostly to free consumers.

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