RatingJul 23, 2026, 06:06 AM
AXIA Energia's 11th Debenture Issuance Receives 'brAAA' Rating
AI Summary
S&P National Ratings assigned a 'brAAA' Brazil National Scale rating to AXIA Energia S.A.'s proposed 11th issuance of senior unsecured debentures. This R$500 million issuance, maturing in July 2036, will fund investment projects for the Santo Antônio Hydroelectric Power Plant. The rating aligns with the company's corporate credit rating, reflecting direct access to Furnas' operating cash flows post-merger and the predominantly unsecured nature of subsidiary debt guaranteed by AXIA.
Key Highlights
- S&P National Ratings assigned a 'brAAA' Brazil National Scale rating to AXIA Energia's 11th debenture issuance.
- The issuance is for R$500 million in senior unsecured debentures, maturing in July 2036.
- Proceeds will exclusively finance investment projects for the Santo Antônio Hydroelectric Power Plant.
- The debenture rating is aligned with AXIA Energia's corporate credit rating (brAAA/Stable/brA-1+).
- AXIA Energia's unsecured creditors gained direct access to Furnas' cash flows after the July 2024 merger.
- As of March 31, 2026, AXIA Energia reported R$79.9 billion in total debt.
- The company's net debt-to-adjusted EBITDA ratio covenant is set at a maximum of 3.75x (or 4.25x for recent issuances).
Price Impact
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