Moody's ups Furnas Centrais Eletricas

Moody's America Latina said it upgraded the issuer rating of Furnas Centrais Eletricas SA to Ba1 from Ba2 on its global scale and to Aa1.br from Aa3.br on its Brazilian national scale.

The outlook is stable.

Moody's said the upgrade reflects strong financial performance that is underpinned by contractual arrangements and the benefits of ownership by Centrais Eletricas Brasileiras SA - Eletrobras (unrated).

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