A light (LIFT3) would be studying filing a caution request to protect itself from the collection of short-term debts by banks, something similar to that done by Hey (OIBR3) It is Americans (AMER3) before entering judicial recovery.
According to the columnist of The globeLauro Jardim, the light would have hired the BMA law firm to prepare the injunction. In January, Light tapped Laplace to restructure its debt. Since then, the stock has melted 44%.
A possible judicial recovery of electricity reached the market. Despite this, as a concession, the light cannot request judicial or extrajudicial recovery.
Responsible for serving the entire metropolitan region of Rio de JaneiroThe light operates mainly in the electricity distribution segment. The company has high rates of non-technical losses, due to factors such as energy theft.
A light ended the third quarter of 2022 with a leverage ratio of three times net debt over operating income and a cash position of R$4 billion.
In addition, most of the debt amortization is expected for the period from 2025 to 27. That is, close to the end of the concession in 2026.
In a report sent to clients last week, the USB BB said that the company does not have enough cash generation to pay all the company’s debt until the end of the distribution concession.
to Reuterssources said the light has been talking with the federal government to seek a solution, one of the possibilities being the anticipation of the renewal of the concession.
“The group (Light) has no interest in returning the concession or giving up; what they want are new conditions for the concession to remain standing”, said the source, without detailing what the conditions would be.
With information from Reuters
Source: Moneytimes
I am an author and journalist with a focus on market news. I have worked for a global news website for the past two years, writing articles on a range of topics relating to the stock market. My work has been published in international publications and I have delivered talks at both academic institutions and business conferences around the world.
