Research Update: Brazilian Power Distributor Celtins Downgraded; Ratings On Rede Energia Subs Celpa And Cemat Affirmed; Outlook Negative Dec 10
Standard & Poors, December 2010
Abstract
Although subsidiaries of Rede Energia have benefited from a capital injection and the issuance of some long-term debt, refinancing risks remain high for 2011. We took several rating actions on Rede's subsidiaries. The outlook on all ratings is negative. The negative outlook reflects significant challenges for these companies to cope with refinancing risks and still perform investments to improve service quality and profitability. On Dec. 28, 2010, Standard & Poor's Ratings Services lowered its rating on Companhia de Energia Eletrica do Estado do Tocantins (Celtins) to 'B-' from 'B+', and affirmed its 'B-' rating on Centrais Eletricas Matogrossenses S.A. (Cemat) and its 'CCC+' rating on Centrais El-tricas do Par- S.A. (Celpa). Celtins, Cemat and Celpa are electric energy distribution companies...
Companies mentioned in this report are: Rede Empresas de Energia Eletrica S.A.,Centrais Eletricas Matogrossenses S.A.,Centrais Eletricas do Para S.A.,Companhia de Energia Eletrica do Estado do Tocantins
Action: Affirmed
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
Rede Empresas de Energia Eletrica S.A.,Centrais Eletricas Matogrossenses S.A.,Centrais Eletricas do Para S.A.,Companhia de Energia Eletrica do Estado do Tocantins
Customers who bought this item also bought
All rights reserved. © Copyright 2013 Research and Markets WWW6
Terms and Conditions Privacy Policy Publishers Employment Opportunities Site Map Link to us Webmaster Affiliate Network
