Fitch revises Energisa view to stable

Fitch Ratings said it revised the outlooks for Energisa SA’s local-currency issuer default ratings and the national scale ratings to stable from negative.

“The revision of the outlook for the LC IDR and national scale rating reflects the group's ability to bring its consolidated credit metrics in line with the current ratings. Energisa group's credit profile benefits from its diversified portfolio of concessions in the Brazilian power sector, with strong operating performance, a positive outlook for future tariff readjustments, and a recovery in energy consumption bolstering its distribution segment,” the agency said in a press release.

Concurrently, the agency affirmed the long-term foreign-currency and local-currency IDRs at BB and BB+, respectively, and the national scale rating at AAA(bra). Fitch also affirmed the ratings of Energisa's 11 rated subsidiaries.

The outlook for the foreign-currency IDRs remains negative.

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