Centrais Eletricas Matogrossenses S.A. Mar 09
Standard & Poors, March 2009
Abstract
High refinancing risk due to poor liquidity and limited financial flexibility; Weak cash flow protection measures; Still-significant financial risks due to limited capacity to reduce debt with internal cash flow; Aggressive capital expenditure program for the next five years; and Exposure to an evolving regulatory, environment, even though we see the sector's new framework as a positive development in reducing industry risks. Lack of competition in its service area due to its exclusive right to distribute energy in its concession area; Customer profile largely based on residential and commercial segments (which together represent 57% of the total revenues and 55% of total volume sold); and Strong demand in its concession area, averaging 6% per year, which is higher than that...
Companies mentioned in this report are: Centrais Eletricas Matogrossenses S.A.,Centrais Eletricas do Para S.A.,Companhia de Energia Eletrica do Estado do Tocantins
Action: Review
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
Centrais Eletricas Matogrossenses S.A.,Centrais Eletricas do Para S.A.,Companhia de Energia Eletrica do Estado do Tocantins
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