Moody's boosts Energisa

Moody's Investors Service said it affirmed Energisa SA's Ba3 corporate family rating on the global scale and upgraded to A2.br from A3.br its corporate family rating on the Brazilian national scale.

Moody's affirmed the Ba3 rating of the company's $250 million unsecured note units.

The outlook was revised to positive from stable.

The Ba3 corporate family rating reflects Energisa's solid credit metrics for the rating category, sound liquidity position, experienced management, and the inherently stable and predictable cash flow nature of the electricity distribution business, according to the agency.

A relatively fairly sizable capital expenditures program constrains ratings, the agency noted.

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