...Fitch Ratings affirmed Engie Brasil Energia S.A.'s Foreign Currency (FC) and Local Currency (LC) Issuer Default Ratings (IDRs) at `BB' and `BBB¡', respectively, and its National Scale Rating at `AAA(bra)'. The Rating Outlook is Stable. Engie Brasil's ratings reflect its prominent market position as Brazil's largest private electric generation company, with a diversified portfolio, efficient operations and robust operating cash flow that benefits from long-term power purchase agreements with its clients. To a lesser extent, Fitch's analysis considered the sector expertise of its parent company, Engie S.A. (A/Stable), as a significant global power company. The company also benefits from its conservative financial profile with historical low leverage and strong financial flexibility to deal with new debt needs resulting from investments in its asset-growing cycle. Engie Brasil's FC IDR is constrained by Brazil's Country Ceiling of `BB', as the company generates all of its revenue in local...
