S&P downgrades Brazil companies

Standard & Poor's said it took various rating actions on Brazilian corporations and infrastructure entities following the downgrade of Brazil’s sovereign ratings.

The agency said it lowered the ratings by one notch on the global-scale foreign-currency rating to BB+ and on the national scale to brAA+ on:

• Companhia de Gas de Sao Paulo (Comgas)

• Companhia Energetica do Ceara (Coelce)

• Elektro Eletricidade e Servicos SA (Elektro)

• Eletrobras - Centrais Eletricas Brasileiras SA

• Transmissora Alianca de Energia Eletrica SA (Taesa)

• Neoenergia SA

• Companhia de Eletricidade do Estado da Bahia (Coelba)

• Companhia Energetica do Rio Grande do Norte (Cosern)

• Companhia Energetica de Pernambuco (Celpe)

• Itaipu Binacional

• Atlantia Bertin Concessoes SA (AB Concessoes)

• Rodovia das Colinas SA

• Triangulo do Sol Auto - Estradas SA

• Arteris SA

• Autopista Planalto Sul SA

• CCR SA

• Autoban – Concessionaria do Sistema Anhanguera Bandeirantes SA

• Concessionaria da Rodovia Presidente Dutra SA

• Rodonorte Concessionaria de Rodovias Integradas SA

• Ecorodovias Concessoes e Servicos SA

• Concessionaria Ecovias dos Imigrantes SA

• Santos Brasil Participacoes SA

The agency also said it downgraded Eletrobras’s and Itaipus’s global-scale local-currency ratings to BBB-.

S&P also lowered the global-scale ratings on Petroleo Brasileiro SA (Petrobras) to BB from BBB- and national scale ratings to brAA from brAAA.

The agency also said it downgraded Samarco Mineracao SA global-scale rating to BB+ from BBB- on global scale and to 'brAA+' from 'brAAA' on national scale.

S&P also downgraded the global-scale ratings by one notch on:

• AmBev – Companhia de Bebidas das Americas (AmBev)

• Globo Comunicacao e Participacoes SA

• Multiplan Empreendimentos Imobiliarios SA

• Ultrapar Participacoes SA

• Votorantim Participacoes SA

• Votorantim Industrial SA

• Votorantim Cimentos SA

Also, the agency said it placed on CreditWatch with negative implications:

• Braskem SA

• Klabin SA

• Odebrecht Engenharia e Construcao SA

• Baesa – Energetica Barra Grande SA

• Duke Energia International Geracao Paranapanema SA

• Tractebel Energia SA

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