Moody's rates Energisa Ba3

Moody's investors Service said it assigned Energisa SA a Ba3 global local-currency corporate family rating and an A3.br Brazil national scale corporate family rating.

The outlook is stable.

Moody's said the Ba3 rating considers Energisa's monopoly position in some electricity markets and its strong credit metrics for the rating category.

The rating also incorporates an evolving regulatory environment and relatively weak liquidity management given the lack of committed standby credit facilities and potential uncertainty about the company's ability to continue to access local capital markets, the agency said.

Energisa's rating also considers the group's recent corporate restructuring and expected debt reduction over the coming years, Moody's said.

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