S&P affirms Espirito Santo

Standard & Poor's said it affirmed its BB+ global scale and brAA+ national scale ratings on Espirito Santo Centrais Eletricas SA. The outlook is stable.

The agency said the ratings reflect the stable regulatory framework in Brazil, greater GDP expansion in its concession area in comparison with Brazilian average GDP and better operational indicators relative to its peers.

S&P said it expects that the company will maintain good cash flow generation and that its credit metrics will remain quite strong.

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