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Centrais Elétricas Brasileiras S.A. – Eletrobras (NYSE:EBR, NYSE:EBR.B) announced Thursday that S&P Global Ratings has reaffirmed the company’s global credit rating at BB with a stable outlook. The announcement was made in a statement released by the company and disclosed in a filing with the Securities and Exchange Commission.
According to the press release, S&P’s decision to maintain the BB rating reflects Eletrobras’ progress in operational efficiency, reduction of contingencies, simplification of its organizational structure, and the approval of a settlement agreement with the Brazilian government.
The full S&P report is available on the company’s investor relations website and on the Brazilian Securities and Exchange Commission (CVM) website.
The information in this article is based on a statement provided by the company in its SEC filing.
In other recent news, Eletrobras has reported placing the Colíder Hydroelectric Power Plant in Mato Grosso, Brazil, under "ALERT" status due to drainage system issues. This development follows the company’s acquisition of the 300-megawatt plant from Copel on May 30. At the time of the acquisition, the plant was already classified at the "ATTENTION" level, which is the second of four dam safety categories. The company disclosed these details in a press release filed with the U.S. Securities and Exchange Commission. These safety concerns are significant for stakeholders as they could impact the plant’s operational stability. The Colíder plant’s status highlights the ongoing challenges Eletrobras faces in managing its newly acquired asset. This update is part of Eletrobras’s recent developments and underscores the importance of infrastructure safety in its operations.
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