Moody's rates Alupar bonds Ba2

Moody's America Latina assigned a Ba1 global scale corporate family rating and Aa2.br corporate family rating on the Brazilian national scale to Alupar Investimento SA and a Ba2 global scale rating and Aa3.br rating on the Brazilian national scale to the four-to-five-year R$250 million senior unsecured debentures to be issued in the local market by Alupar.

The outlook is stable.

The agency said the Ba1 corporate family rating largely reflects Alupar's solid position in the Brazilian electricity transmission sector, which generally offers more predictable and stable cash flow than does the electricity distribution and generation segments; the company's strong credit metrics for the rating category and adequate liquidity position.

The ratings are constrained by the limited track record of Alupar's operations as an independent arm of the Alusa group and the fact that management's ability to efficiently carry out its business strategy going forward is limited to the company's brief historical performance, Moody's said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.