Fitch rates Itaipu

Fitch rates Itaipu

Corporate & Sovereign Strategy

Fitch has assigned a first-time foreign currency rating of BBB to the Brazilian-Paraguayan hydroelectric station Itaipu. The rating is higher than the BB- that Fitch assigns Paraguay, to reflect the fact that BBB rated Brazil buys over 90% of the power produced by the company. Fitch said the rating incorporated Itaipu's adequate liquidity position and cash flow predictability, from the Itaipu Treaty between Brazil and Paraguay. “This treaty actually defines the annual tariff as sufficient to cov

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