Report of Foreign Issuer (6-k)
September 17 2020 - 6:04AM
Edgar (US Regulatory)
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
For the month of September, 2020
Commission File Number 1-34129
CENTRAIS ELÉTRICAS BRASILEIRAS S.A.
- ELETROBRÁS
(Exact name of registrant as specified in its
charter)
BRAZILIAN ELECTRIC POWER COMPANY
(Translation of Registrant's name into English)
Rua da Quitanda, 196 – 24th floor,
Centro, CEP 20091-005,
Rio de Janeiro, RJ, Brazil
(Address of principal executive office)
Indicate by check mark whether the registrant
files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ___X___ Form 40-F _______
Indicate by check mark whether the registrant
by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934.
Yes _______ No___X____
MARKET ANNOUNCEMENT
CENTRAIS
ELÉTRICAS BRASILEIRAS S/A
CNPJ: 00.001.180/0001-26 | NIRE: 533.0000085-9
PUBLIC COMPANY
Centrais Elétricas Brasileiras
S/A (“Company” or “Eletrobras”) (B3: ELET3, ELET5 & ELET6; NYSE: EBR & EBR.B; LATIBEX: XELT.O
& XELT.B) hereby informs its shareholders and the market in general that, on this date, Moody’s risk rating agency raised
the rating of the Company by 1 level, from “Ba3” to “Ba2”. At the same time, the agency also increased
the company's basic credit rating (BCA) by 1 level from “b1” to “Ba3”. The outlook for all ratings was
changed from positive to stable.
According to the agency, the update of
Eletrobras' BCA to “Ba3” reflects the improvement in the company's credit profile after its cost reduction and business
restructuring initiatives implemented since 2016, allowing the company to resume an investment path to sustain its dominant position
in the Brazilian electricity sector. The ratings consider a greater visibility of the company's investment strategy, as highlighted
in its long-term business plan released in August, with management's commitment to a financial discipline approach. The update
also incorporates improvements in the company's liquidity position, resulting from the conclusion of liabilities management initiatives
that extended the debt maturity profile.
The report issued by that agency is
on the Company's website (www.eletrobras.com/ir).
Rio de Janeiro, September 16, 2020
Elvira Cavalcanti Presta
CFO and Investor Relations Officer
This document may contain estimates and projections
that are not statements of fact that occurred in the past but reflect our management beliefs and expectations and may constitute
forward-looking statements and estimates under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities
and Exchange Act of 1934, as amended. The words "believe", "may", "may", "estimate", "continue",
"anticipate", "intend", "expect" and the like are intended to identify estimates that necessarily
involve risks and uncertainties, known or unknown . Known risks and uncertainties include, but are not limited to: general economic,
regulatory, political and commercial conditions in Brazil and abroad, changes in interest rates, inflation and value of the Real,
changes in volumes and the pattern of electric energy use by consumer, competitive conditions, our level of indebtedness, the possibility
of receiving payments related to our receivables, changes in rainfall and water levels in the reservoirs used to operate our hydroelectric
power plants, our financing and capital investment plans, existing and future government regulations , and other risks described
in our annual report and other documents filed with CVM and SEC. Estimates and projections refer only to the date they were expressed
and we assume no obligation to update any of these estimates or projections due to the occurrence of new information or future
events. Future results of the Company's operations and initiatives may differ from current expectations and the investor should
not rely solely on the information contained herein. This material contains calculations that may not reflect accurate results
due to rounding.
SIGNATURE
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: September 16, 2020
CENTRAIS ELÉTRICAS BRASILEIRAS S.A. - ELETROBRÁS
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By:
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/S/ Elvira Baracuhy Cavalcanti Presta
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Elvira Baracuhy Cavalcanti Presta
CFO and Investor Relations Officer
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FORWARD-LOOKING STATEMENTS
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.
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