Fitch Ratings Downgrades Corporate Credit Rating of Eletropaulo Metropolitana Eletricidade de Sao Paulo SA with Negative Outlook


Monday, 1 Jul 2013 08:50am EDT 

Eletropaulo Metropolitana Eletricidade de Sao Paulo SA announced that Fitch Ratings (Fitch), on June 28, 2013, downgraded its corporate credit ratings on a global scale from BBB- to BB+ and on a national scale maintained AA rating, both with negative outlook. According to Fitch, downgrade reflects weakening of the Company's credit profile due to reduction in operating cash flow as a result of the last Tariff Review, higher energy costs and increased long-term debt with the pension plan.