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Three Brazilian Power Distributors' Ratings Lowered; Another's Outlook Changed To Negative May 09
Standard & Poors, May 2009
-- Standard & Poor's is concerned about the short-term debt refinancing strategies and liquidity positions of four Brazilian electric power distribution subsidiaries of Rede Energia S.A. (not rated): Celpa, Cemat, Celtins, and Enersul. -- We took several negative rating actions in the global and national scale on the four companies. -- The outlook is negative for all four companies because downside risk still persists. SAO PAULO (Standard & Poor's) May 27, 2009--Standard & Poor's Ratings Services said today it lowered Centrais Eletricas do Para S.A.'s (Celpa) rating to 'CCC+' from 'B' and Centrais Eletricas Matogrossenses S.A. (Cemat) rating went to 'B-' from 'B'. We removed those ratings from CreditWatch with negative implications where we placed them on Feb. 26, 2008...
Companies mentioned in this report are: Centrais Eletricas do Para S.A.,Centrais Eletricas Matogrossenses S.A.,Empresa Energetica de Mato Grosso do Sul S.A.,Companhia de Energia Eletrica do Estado do Tocantins
Action: Outlook: Negative
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.
Centrais Eletricas do Para S.A.,Centrais Eletricas Matogrossenses S.A.,Empresa Energetica de Mato Grosso do Sul S.A.,Companhia de Energia Eletrica do Estado do Tocantins