Moody's: Eletropaulo debt Baa3

Moody's America Latina said it assigned Baa3 rating on the global scale, and Aa1.br on the national scale rating, to Eletropaulo Metropolitana de Eletricidade de Sao Paulo SA's R$750 million six-year senior unsecured debentures.

At the same time, Moody's affirmed Eletropaulo's issuer ratings of Baa3 on the global scale and Aa1.br on the national scale rating, as well as the Ba1/Aa2.br ratings of the company's R$400 million four-year subordinated unsecured debentures.

The outlook remains stable.

Moody's said the subordinated debentures' rating is one notch lower than Eletropaulo's issuer ratings because it reflects the subordination of the debentures to other outstanding debt issued by the company.

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