Fitch Ratings affirms the National Scale rating of Eletropaulo
Metropolitana de Eletricidade de Sao Paulo S.A.'s (Eletropaulo) 9th
Issuance of debentures at 'A (bra)'. The 9th issuance of debentures has
a face value of R$250 million due 2018. Fitch rates Eletropaulo as
follows:
--Local currency Issuer Default Rating (IDR) 'BB-';
--Foreign currency IDR 'BB-';
--Senior unsecured notes Due 2010 'BB-';
--Debentures - 10th Issuance due 2013 at 'A(bra)';
--Debentures - 11th Issuance due 2018 at 'A(bra)';
--Syndicated Bank Credit Facility (CCB) due 2015 at 'A(bra)';
--National long-term scale 'A(bra)';
The Outlook is Stable for the corporate ratings.
Eletropaulo is the largest electricity distribution company in Latin
America in terms of revenues. The company is a natural monopoly and
distributes electricity to approximately 5.5 million clients in 24
municipalities in the metropolitan region of greater Sao Paulo, Brazil.
Eletropaulo is indirectly controlled by the Companhia Brasiliana de
Energia.
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