Moody's: Copasa notes Ba1

Moody's Investors Service said it assigned a Ba1 rating on the global scale and an Aa2.br Brazilian national scale rating to Companhia de Saneamento de Minas Gerais SA's (Copasa) R$400 million five- and seven-year senior unsecured debentures.

The outlook is stable.

Moody's said the ratings reflect Copasa's credit metrics for the rating category along with its stable cash flow derived from long-term concession contracts executed with 72% of the municipalities of the State of Minas Gerais, high operating efficiency, low delinquency rates, secure access to water supply, diversified customer base, and strong support from the Minas Gerais State Government, given Copasa's role as provider of essential services in Minas Gerais.

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