Fitch stabilizes Brazilian corporate view

Fitch Ratings said it revised the outlook for a group of Brazilian corporates to stable from negative following a similar revision to Brazil's sovereign rating outlook to stable from negative. Additionally, the agency affirmed the issuers' long-term foreign-currency issuer default ratings and local-currency IDRs.

“The outlook revision to stable from negative for these issuers results from their exposure to Brazil's Country Ceiling or their direct linkage to the country's sovereign ratings,” Fitch said in a press release.

The companies are Aegea Saneamento e Participacoes SA, Cemig Geracao e Transmissao SA, Energisa Sergipe - Distribuidora de Energia S/A, BR Malls Participacoes SA, Cemig Distribuicao SA, Petroleo Brasileiro SA, Companhia de Gas de Sao Paulo – Comgas, Rumo SA, Energisa SA, Simpar SA, Americanas SA, Cosan SA, Globo Comunicacao e Participacoes SA, Transmissora Alianca de Energia Eletrica SA, JSL SA, Energisa Paraiba - Distribuidora de Energia S/A, Raizen Energia SA, Transportadora Associada de Gas SA- TAG, Compass Gas e Energia SA, Engie Brasil Energia SA, MRS Logistica SA, Alupar Investimento SA, Energisa Minas Gerais - Distribuidora de Energia S/A, CESP - Companhia Energetica de Sao Paulo, Companhia Energetica de Minas Gerais (Cemig), Localiza Rent a Car SA, Movida Participacoes SA and Rede D'Or Sao Luiz SA.

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