CIG, US2044096012

CIG stock gained 2.14 percent as Cemig kept its AAA rating

Published on 10/04/2026 at 20:54 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

CIG stock drew a fresh credit signal on October 2 as Moody's Local kept Cemig at AAA.br with a stable outlook. Q2 revenue rose 3.4 percent, while net income fell 20.4 percent.

CIG, US2044096012, Illustration mit AI erstellt.

CIG stock (ISIN US2044096012) closed at USD 2.14 on the NYSE on October 2, 2026, up 2.14 percent from the previous session. The move followed Moody's Local Brasil affirming Cemig's AAA.br corporate rating with a stable outlook, according to Finance News on October 2, 2026.

Credit quality meets higher leverage

The rating affirmation supports Cemig's financing profile, but the same report points to higher leverage during the company's investment cycle. The agency expects credit metrics to remain compatible with AAA.br before the next tariff review for Cemig Distribuição in 2028, as Finance News reported.

Cemig's 2Q26 figures show why debt remains central to the stock story. Net debt reached BRL 19.36 billion, up 58.3 percent from 2Q25, while net debt to adjusted EBITDA rose to 2.58x from 1.59x, according to StockTitan in the September 9, 2026 Form 6-K summary.

EBITDA rose as profit declined

For 2Q26, net operating revenue increased 3.4 percent year over year to BRL 11.16 billion. Adjusted EBITDA climbed 9.3 percent to BRL 2.47 billion, giving the utility stronger operating earnings despite pressure below the operating line, according to StockTitan.

IFRS net income moved in the opposite direction, falling 20.4 percent to BRL 945.4 million from BRL 1.19 billion in 2Q25. Financial expenses rose 76.6 percent to BRL 1.09 billion, making the gap between operating performance and bottom-line profit the key counterweight to the rating news.

Stock keeps a wide yearly range

The October 2 session ran from USD 2.07 to USD 2.15, while CIG's 52-week range stood at USD 1.87 to USD 2.76. Volume reached 3,784,904 shares and market capitalization was USD 6.1 billion on the same date.

CIG stock was last at USD 2.14 on the NYSE on October 2, 2026. The closing level leaves the shares 22.46 percent below the 52-week high of USD 2.76, keeping leverage and profit conversion central to the valuation discussion.