- Language: English
- Published: October 2012
Summary: Centrais Eletricas do Para S.A. Jan 06
- ID: 1857276
- January 2006
- Standard & Poors
The ratings on Brazilian electric utility Centrais Eletricas do Para S.A. (Celpa) reflect the following risks: High refinancing risk due to the low debt profile and limited financial flexibility. The company has a significant amount of short-term maturities to deal with (299 million Brazilian reales (BrR) as of September 2005), and Standard & Poor's views its access to funding as limited due to its aggressive financial risk profile and the high leverage of Rede de Empresas de Energia Eletrica (Rede Group), Celpa's controlling shareholder, in general. Tight cash flow protection measures. Celpa is expected to continue having negative free cash flow in the coming years, adding to its challenges in rolling over its debts. An aggressive capital expenditure program. Celpa...
Companies mentioned in this report are: 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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >
Centrais Eletricas do Para S.A.