- Published: November 2011
- Region: Global
Summary: Eletropaulo Metropolitana Eletricidade de Sao Paulo S.A. Jun 11
- Published: June 2011
- Standard & Poors
The ratings on Brazil-based electric power distribution company Eletropaulo Metropolitana Eletricidade de S-o Paulo S.A. (Eletropaulo) reflect its satisfactory business profile and significant financial profile. The company's aggressive dividend distribution and some uncertainty about the third-cycle tariff reset that regulator Ag-ncia Nacional de Energia El-trica (Aneel) will decide are relevant risks. Partly mitigating those risks are the company's consistently strong cash flow generation and liquidity--even with a high level of dividends distribution--and active liability management that result in a comfortable debt amortization schedule. The company's satisfactory business profile reflects the benefits from an exclusive concession to distribute electricity in the S-o Paulo metropolitan area, sound operating performance, and an adequate and steady level of total electricity losses (10.8% in March...
Companies mentioned in this report are: Eletropaulo Metropolitana Eletricidade de Sao Paulo S.A.
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Eletropaulo Metropolitana Eletricidade de Sao Paulo S.A.