Moody’s: Sabesp outlook to negative

Moody's America Latina Ltda. said it affirmed the local currency issuer ratings of Companhia de Saneamento Basico do Estado de Sao Paulo (Sabesp) of Baa3 on the global scale and Aa1.br on the Brazilian national scale.

At the same time, the agency downgraded the baseline credit assessment to ba1 from baa3 and changed the outlook to negative from stable.

Moody’s said the downgrade in the baseline credit assessment and outlook change reflects uncertainties about the company's ability to post credit metrics compatible with its investment grade rating while it maintains an appropriate liquidity position over the medium term which currently remains adequate.

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