S&P affirms Petropower

Standard & Poor's said it affirmed the BBB- senior secured rating on Petropower Energia Ltda. following the almost full restoration of its operations.

The outlook is stable.

Following the earthquake, Petropower's operating revenues declined and costs related to repairing works rose, the agency said. However, as a result of significant compensations from the insurance companies for physical damage and business interruption, DSCR in 2010 substantially exceeded the minimum of 1.2x required to make restricted payments.

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