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Bulletin: Companhia Energetica de Minas Gerais Ratings Unaffected By Acquisition Of Stake In Transmission Firms By Affiliate TAESA Jun 11
Standard & Poors, June 2011
Abstract
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.
Action: Bulletin
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.
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