Moody's ups Energisa

Moody's Investors Service said it upgraded Energisa SA's corporate family rating from A1.br to Aa3.br and maintained its global-scale rating at Ba2.

The outlook remains stable.

The upgrade reflects the company's solid credit metrics, strong electricity sales growth in the concession areas in the states of Paraiba and Sergipe, healthy liquidity position and the stable cash flows derived from the electricity-distribution business, Moody's said.

The stable outlook reflects that the company will continue to produce solid credit metrics for the rating, the agency said.

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