[MLT] Ratings On Rede Energia?s Subsidiaries Affirmed; Cemat And Celtins Outlook Revised To Stable From Negative Dec 11
- Language: English
- Published: December 2011
Refinancing risk, given the mounting level of debt coming due in the short term, Risks of cash upstream to support debt at the holding level, and Significant challenges for the company to cope with refinancing risks and still invest to improve service quality and profitability. Favorable demand prospects in its concession area, the State of Tocantins; Exclusive right to distribute electricity in the concession area; and A customer base that largely consists of residential and commercial customers. Standard & Poor's Ratings Services' ratings on Brazilian electric utility Companhia de Energia El-trica do Estado do Tocantins (Celtins) reflect our opinion that recent positive developments for its parent Rede Energia (Rede; not rated) have not offset its still high refinancing risks. Although...
Companies mentioned in this report are: Companhia de Energia Eletrica do Estado do Tocantins,Centrais Eletricas Matogrossenses S.A.,Centrais Eletricas do Para S.A.
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: Full Analysis
SHOW LESS READ MORE >
Companhia de Energia Eletrica do Estado do Tocantins,Centrais Eletricas Matogrossenses S.A.,Centrais Eletricas do Para S.A.