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MARKET ANNOUNCEMENT |
CENTRAIS ELETRICAS BRASILEIRAS S/A
CNPJ: 00.001.180/0001-26
PUBLIC COMPANY
Centrais Elétricas Brasileiras S/A ("Company" or "Eletrobras") hereby informs its Shareholders and the market in general that on, October 23, 2017, the rating agency Fitch Ratings ("Fitch") revised the Company's outlook from stable to negative and confirmed the 'BB-' IDRs. The Agency even affirmed the Long-Term National Scale Rating on 'AA- (bra)' and revised the outlook from Stable to Negative.
The reassessment of the risk rating was justified by Fitch due to the possibility that the Company could not count on a greater support from the Brazilian federal government due to the intention announced by the federal government to privatize the Company. Nevertheless, Fitch considered that the privatization could be positive for the Company, but given the uncertainties that, according to Fitch, are still involved in this process, this scenario could not be considered.
Rio de Janeiro, November 24, 2017.
Armando Casado de Araujo
CFO and Investor Relations Officer
CENTRAIS ELÉTRICAS BRASILEIRAS S.A. - ELETROBRÁS | ||
By: |
/S/ Armando Casado de Araujo
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Armando Casado de Araujo
Chief Financial and Investor Relation Officer |
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.