Moody’s rates Embasa Ba3

Moody's Investors Service said it assigned a global scale Ba3 rating and A2.br Brazilian national scale rating to Empresa Baiana de Agua e Saneamento SA (Embasa).

The outlook is negative.

The ratings reflect the company’s relatively stable operating performance over the last five years, underpinned by regular tariff adjustments, low leverage and conservative financial policy evidenced by the absence of dividend payments over the last three years, Moody’s said.

The ratings also consider expectations that the company's controlling shareholder, the state of Bahia, will continue to support the company to the extent possible given its limited fiscal position, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.