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Bulletin: Elektro Eletricidade e Servi?os Ratings Unaffected By Iberdrola's Announced Acquisition Of A Controlling Stake From AEI Jan 11
Standard & Poors, Jan 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
SAO PAULO (Standard & Poor's) Jan. 20, 2011--Standard & Poor's Ratings Services said today that its rating on Elektro Eletricidade e Servi-os S.A. (national scale: brAAA/Stable/--) is not immediately affected by the announced acquisition by Iberdrola S.A. (global scale: A-/Negative/A-2) of a controlling stake in Elektro from AEI (global scale: BB-/Stable/--). The deal is pending approval from Ag-ncia Nacional de Energia El-trica (ANEEL), the Brazilian electric sector's regulator. Although Iberdrola's strategy to integrate Elektro into its operations isn't completely defined, we expect no increase in Elektro's leverage because of the consolidation. We acknowledge the potential benefits to the company from having a financially stronger shareholder, even though we don't incorporate this support in our ratings on Elektro. The company's debentures...
Companies mentioned in this report are: Elektro Eletricidade e Servicos S.A.,Iberdrola S.A.,AEI
Action: Bulletin
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