Fitch revises Eletrobras standalone

Fitch Ratings said it affirmed Centrais Eletricas Brasileiras SA (Eletrobras) and its wholly owned subsidiary Furnas Centrais Eletricas SA's (Furnas) long-term foreign and local currency issuer default ratings at BB- and long-term national scale ratings at AA(bra).

In addition, Fitch revised its assessment of Eletrobras' consolidated standalone credit profile to b from b-.

The outlook is stable.

Eletrobras' ratings are equalized with Brazil's sovereign rating (BB-/stable) due to the agency's assessment of the company's strong linkage with the government and the strong to very strong incentive of government support, Fitch said.

© 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.