May 13, 2021 |
Local investors and observers have brushed away credit concerns raised by rating agency Moody's, which downgraded two Brazilian water and sewage companies this week after they committed to invest massively in risky concessions in Rio de Janeiro.
Moody's downgraded Aegea to Aa2.br on the national scale on Monday night and changed the outlook to negative from stable. It also downgraded Iguá Saneamento to Ba3 on the global scale and A2.br on the local scale.
Aegea won two concessions from Rio stat
Brazilian water companies are seen tapping ample liquidity to raise debt for new concessions despite downgrades by Moody's