Bulletin: Companhia Energetica de Minas Gerais Ratings Unaffected By Acquisition Of Stake In Transmission Firms By Affiliate TAESA Jun 11
- ID: 1814952
- June 2011
- Standard & Poors
SAO PAULO (Standard & Poor's) June 7, 2011--Standard & Poor's Ratings Services said today that its ratings on Brazilian electric utility Companhia Energetica de Minas Gerais S.A. (Cemig; global scale: BB/Stable/--; national scale: brAA-/Stable/--) and its wholly owned subsidiaries Cemig Gera--o e Transmissao S.A. (Cemig GT; global scale: BB/Stable/--; national scale: brAA-/Stable/--) and Cemig Distribui--o S.A. (Cemig D; global scale: BB/Stable/--; national scale: brAA/Stable/--) are not immediately affected by Cemig's announcement that its affiliate, Transmissora Alian-a de Energia Eletrica S.A. (TAESA; not rated), reached an agreement with ABENGOA Group to acquire a 50% stake in Abengoa Participa--es Holding S.A. (not rated), which, in turn, will hold 100% stakes in transmission companies (STE, ATE, ATEII and ATEIII) and also will acquire...
Companies mentioned in this report are: Companhia Energetica de Minas Gerais S.A.,Cemig Distribuicao S.A.,Cemig Geracao e Transmissao S.A.
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