Wednesday, September 21, 2016

Fitch Downgrades AgeRio to 'C' Following Action on Parent

(The following statement was released by the rating agency)

RIO DE JANEIRO, September 21 (Fitch) Fitch Ratings has

downgraded Agencia de

Fomento do Estado do Rio de Janeiro S.A.'s (AgeRio) Long-Term

Local and Foreign

Currency Issuer Default Ratings (IDRs) to 'C' from 'B-' and

Long-Term National

Ratings to 'C(bra)' from 'BB-(bra)'. A full list of rating

actions follows at

the end of this release.

KEY RATING DRIVERS - IDRS, NATIONAL RATINGS, SUPPORT RATINGS

The rating action mirrors the recent

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