Fitch reaffirms BB- rating of Brazil, with negative outlook

Ratings agency Fitch kept Brazil’s long-term credit rating in local and foreign currency unchanged at BB-, as well as the “negative” outlook. In a report released earlier, Fitch reports that the country remains with high public debt, rigid fiscal structure, fragile economic growth potential and challenging political scenario, which makes it difficult to advance economic and fiscal reforms in the appropriate period of time.

Source: Valor Investe

CGT Eletrosul purchases the entire TSLE for $41.7 mm

Eletrobras informed the market that its subsidiary CGT Eletrosul signed a contract for the acquisition of the remaining 49% of the capital stock of CEEE-T in Transmissora Sul Litorânea de Energia (TSLE). With the completion of the operation, CGT Eletrosul will hold 100% of the capital stock of TSLE, in which it was already a shareholder. The operation is conditional on obtaining the consent of TSLE’s creditors.

Source: Canal Energia