S&P acts on Brazilian corporates

S&P said it took multiple actions on Brazilian corporations following the downgrade of the sovereign.

The agency lowered the global scale ratings on entities in the first group to BB- and affirmed the long-term national scale ratings at brAA-.

The affected entities include Algar Telecom SA, Arteris SA, Autoban - Concessionaria do Sistema Anhanguera Bandeirantes SA, Autopista Fernao Dias SA, Autopista Planalto Sul SA, Cachoeira Paulista Transmissora de Energia SA, Camil Alimentos SA, CCR SA, Centrais Eletricas do Para SA, Chapada do Piaui I Holding SA, Companhia de Eletricidade do Estado da Bahia, Companhia de Gas de Sao Paulo – Comgas, Companhia Energetica de Pernambuco, Companhia Energetica do Rio Grande do Norte, Companhia Paulista de Forca e Luz, Companhia Piratininga de Forca e Luz, Concessionaria da Rodovia Presidente Dutra SA, Concessionaria Ecovias dos Imigrantes SA, Cosan Ltd., Cosan SA Industria e Comercio, Cosan Lubrificantes e Especialidades SA, CPFL Energia SA, Cyrela Brazil Realty SA, Empreendimentos e Participacoes, Ecorodovias Concessoes e Servicos SA, EDP Espirito Santo Distribuicao de Energia SA, EDP Sao Paulo Distribuicao de Energia SA, Elektro Redes SA, Energisa Paraiba-Distribuidora de Energia SA, Energisa SA, Energisa Sergipe-Distribuidora de Energia SA, Equatorial Energia SA, Estacio Participacoes SA, Iracema Transmissora de Energia SA, JSL SA, Magazine Luiza SA, MRS Logistica SA, MRV Engenharia e Participacoes SA, Neoenergia SA, Rede D'Or Sao Luiz SA, Rio Grande Energia SA, Rodonorte Concessionaria de Rodovias Integradas SA, Santos Brasil Participacoes SA, Terminal de Conteineres de Paranagua SA and Transmissora Alianca de Energia Eletrica SA.

The agency also downgraded Ultrafertil SA to brA from brA+.

S&P lowered the global scale ratings on entities in the second group by one notch. The affected entities include Ache Laboratorios Farmaceuticos SA (BB+/brAAA), Ambev SA (BBB/brAAA), Globo Comunicacao e Participacoes SA (BB+) and Rio Paranapanema Energia SA (BB/ brAA+).

The agency affirmed the ratings on Braskem SA (BBB-/brAAA), Embraer SA (BBB), Iguatemi Empresa de Shopping Centers SA (brAAA), Multiplan Empreendimentos Imobiliarios SA (brAAA), Localiza Rent a Car SA (BB+/brAAA), Lojas Renner SA (brAAA), Raizen Energia SA and Raizen Combustiveis SA (BBB-/brAAA), Ultrapar Participacoes SA (BB+/brAAA), Votorantim SA (BB+/brAAA), Votorantim Cimentos SA (BB+), Nexa Resources SA (BB+/B), Adecoagro SA (BB), BRF SA (BBB-/brAAA), Companhia Brasileira de Distribuicao (brAAA), Fibria Celulose SA (BBB-), Gerdau SA and Gerdau Ameristeel Corp. (BBB-/brAAA), Iochpe-Maxion SA (brAA), Klabin SA (BB+/brAAA), Magnesita Refratarios SA (BB/brAA), Natura Cosmeticos SA (BB/brAA-), Qualicorp SA (brAAA), Sao Martinho SA (BB+/brAAA), Suzano Papel e Celulose SA (BB+/brAAA), Vale SA (BBB-/brAAA), Vale Canada Ltd. (BBB-) and Petroleo Brasileiro SA (BB-/brA+).

Finally, S&P revised the global scale outlook on Hypermarcas SA to stable from positive.

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