Moody's ups Companhia Energetica de Sao Paulo

Moody's Investors Service said it upgraded the baseline credit assessment of Companhia Energetica de Sao Paulo to ba1 from ba2 and its senior unsecured rating to Baa3 from Ba1 on a local currency basis because the company is a government-related issuer.

At the same time, the agency withdrew the Ba1 corporate family rating because the company is now considered an investment grade issuer.

The outlook is stable.

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