Bulletin: Canadian Pension Plan Investment Board And Votorantim Win Bid To Buy Brazilan Power Company CESP

SAO PAULO (S&P Global Ratings) Oct. 22, 2018--S&P Global Ratings said today that the ratings on Brazil-based hydroelectric power generation company CESP - Companhia Energética de São Paulo (CESP; global scale: BB-/Stable/--; national scale: brAAA/Stable/--) are not immediately affected by the successful privatization auction held on October 19. The transaction is subject to approvals from the regulator Agencia Nacional de Energia Eletrica (ANEEL) and the anti-trust authority (CADE – Conselho Administrativo de Defesa Econômica). Over the next few months, we will evaluate the impact of the new controlling shareholders over CESP's financial policies and growth plans. At this point, and considering the acquisition by a joint venture between Votorantim Energia, a subsidiary of Votorantim S.A. (BB+/Stable/--; brAAA/Stable/--), and Canadian Pension

...SAO PAULO (S&P Global Ratings) Oct. 22, 2018--S&P Global Ratings said today that the ratings on Brazil-based hydroelectric power generation company CESP - Companhia EnergTtica de Spo Paulo (CESP; global scale: ##-/Stable/--; national scale: brAAA/Stable/--) are not immediately affected by the successful privatization auction held on October 19. The transaction is subject to approvals from the regulator Agencia Nacional de Energia Eletrica (ANEEL) and the anti-trust authority (CADE ¡ Conselho Administrativo de Defesa Econ(mica). Over the next few months, we will evaluate the impact of the new controlling shareholders over CESP's financial policies and growth plans. At this point, and considering the acquisition by a joint venture between Votorantim Energia, a subsidiary of Votorantim S.A. (##+/Stable/--; brAAA/Stable/--), and Canadian Pension Plan Investment Board (CPPIB), we expect to analyze CESP as a stand-alone company, assuming that the new shareholders will exercise joint control....

Bulletin