S&P ups Duke Energy, Brazil

Standard & Poor's said it raised its global scale corporate credit rating on Duke Energy International Geracao Paranapanema SA to BBB- from BB.

At the same time, the agency said it raised the Brazilian national scale ratings, including the corporate credit rating, to brAAA from brAA. The outlooks are stable.

"The rating action reflects our view that Duke Paranapanema will maintain very strong cash flow coverage metrics despite lingering uncertainty about its contractual obligations to invest in new capacity," said S&P credit analyst Luisa Vilhena in a news release.

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