Fitch lifts Energisa

Fitch Ratings said it upgraded Energisa SA's issuer default ratings to BB from BB-. The agency also upgraded its subsidiaries' issuer default ratings to BB+ from BB. The outlook for all corporate ratings is stable.

The agency said the upgrade reflects Energisa's expected ability to keep its consolidated leverage ratios at levels consistent with the assigned rating category, even during a time of higher capital expenditures.

Fitch said it considers the investments in the generation segment as positive, based on asset diversification and more predictable cash flow generation.

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