Fitch assigns BB to CESP

Fitch Ratings said it assigned first-time long-term foreign- and local-currency issuer default ratings (IDRs) of BB and BB+, respectively, and national scale rating of AAA(bra) to CESP - Companhia Energetica de Sao Paulo. The outlook for the foreign-currency IDR is negative, while the outlook for the local-currency IDR and national scale rating is stable.

“CESP’s IDRs reflect its moderate to strong business profile within the power- generation segment in Brazil, combined with a conservative capital structure, strong liquidity position and lengthened debt maturity schedule,” Fitch said in a press release.

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