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Summary: Espirito Santo Centrais Eletricas S.A. Feb 08 Product Image

Summary: Espirito Santo Centrais Eletricas S.A. Feb 08

  • ID: 1810807
  • February 2008
  • Standard & Poors

Abstract
The rating on the Brazilian electric utility Espirito Santo Centrais Eletricas S.A. (ESCELSA) reflects the company's challenges to meet relevant debenture amortization from 2009 to 2014; Standard & Poor's Ratings Services' expectation of higher dividends for the holding company; and the company's exposure to an evolving regulatory environment. However, we view the regulatory framework as a positive development to reduce industry risks. These weaknesses are partially offset by improving credit metrics due to company's efforts to improve the debt amortization schedule and to reduce debt cost; the company's adequate operating statistics (average duration of outages of 9.5 hours per customer and average frequency of outages of 7.9 per customer) and a fair level of total energy losses (13%) in the...

Companies mentioned in this report are:
- Espirito Santo Centrais Eletricas S.A.
- EDP - Energias de Portugal S.A.

Action: Review

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Note: Product cover images may vary from those shown

- Espirito Santo Centrais Eletricas S.A.
- EDP - Energias de Portugal S.A.

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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