Moody’s rates EDP debentures Ba2/Aa3.br

Moody's America Latina said it assigned a Ba2 rating on the global scale and an Aa3.br Brazilian national scale rating to EDP - Energias do Brasil SA's R$750 million senior unsecured nonconvertible callable debentures, with a negative outlook.

Proceeds will be used to prepay R$750 million outstanding promissory notes with a final maturity in March 2016.

At the same time, the agency assigned Ba2/Aa3.br corporate family ratings to EDP and withdrew the Ba2/Aa3.br issuer ratings.

Moody’s said the Ba2/Aa3.br corporate family ratings reflect EDP’s adequate credit metrics for the rating category, the company's expertise in the management of the generation and distribution segments along with its resilient access to the local banking and capital markets.

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