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Standard and Poors Announces Downgrade of Corporate Credit Ratings of Eletropaulo Metropolitana Eletricidade de Sao Paulo SA with Negative Outlook


Thursday, 2 May 2013 09:54am EDT 

Eletropaulo Metropolitana Eletricidade de Sao Paulo SA announced that Standard and Poors (S&P), on April 30, 2013, downgraded its corporate credit ratings on a global scale from BB + to BB and on a national scale from brAA + to brAA-, both with negative outlook. Rating of the eleventh issuance of debentures of the Company was also lowered from brAA+ to brAA -. According to the S&P, downgrade reflects more aggressive indicators of financial leverage for the next years as a result of the Third Cycle Tariff Review and increased long-term debt with the pension plan. 

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