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Rating Action: Moody's withdraws Celesc's ratingsGlobal Credit Research - 08 Mar 2021Sao Paulo, March 08, 2021 -- Moody's América Latina Ltda., ("Moody's") has today withdrawn all the ratings assigned to Centrais Elétricas de Santa Catarina S.A. ("Celesc") and Celesc Distribuição S.A. ("Celesc D"). At the time of withdrawal, there was no instrument rating outstanding.The following ratings are affected by today's action:Ratings Withdrawn:..Issuer: Centrais Elétricas de Santa Catarina S.A..... Corporate Family Rating, Withdrawn , previously rated Ba2/Aa3.br..Issuer: Celesc Distribuição S.A..... Issuer Rating, Withdrawn , previously rated Ba2/Aa3.brOutlook Actions:..Issuer: Centrais Elétricas de Santa Catarina S.A.....Outlook, Changed to Rating Withdrawn from Stable..Issuer: Celesc Distribuição S.A.....Outlook, Changed to Rating Withdrawn from StableRATINGS RATIONALEIn May of 2019, Celesc D redeemed its BRL300 million senior unsecured debentures backed by Celesc. Please refer to the Moody's Investors Service Policy for Withdrawal of Credit Ratings, available on its website, www.moodys.com.br.Headquartered in Florianopolis, in the state of Santa Catarina, Brazil, Celesc is a non-operating holding company controlled by the state government of Santa Catarina, with equity interests in companies operating in the electricity sector, gas distribution and sanitation. Celesc's main subsidiaries are (i) Celesc D, an electricity distribution company covering 286 municipalities in the state of Santa Catarina; and (ii) Celesc Geração S.A., a hydropower generation company specialized in small hydro plants and transmission assets. Celesc also holds minority interests in a gas distribution company (SCGAS), a water and sewage company (CASAN) and other small hydropower projects and transmission assets.Moody's National Scale Credit Ratings (NSRs) are intended as relative measures of creditworthiness among debt issues and issuers within a country, enabling market participants to better differentiate relative risks. NSRs differ from Moody's global scale credit ratings in that they are not globally comparable with the full universe of Moody's rated entities, but only with NSRs for other rated debt issues and issuers within the same country. NSRs are designated by a ".nn" country modifier signifying the relevant country, as in ".za" for South Africa. For further information on Moody's approach to national scale credit ratings, please refer to Moody's Credit rating Methodology published in May 2016 entitled "Mapping National Scale Ratings from Global Scale Ratings". While NSRs have no inherent absolute meaning in terms of default risk or expected loss, a historical probability of default consistent with a given NSR can be inferred from the GSR to which it maps back at that particular point in time. For information on the historical default rates associated with different global scale rating categories over different investment horizons, please see https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1216309.REGULATORY DISCLOSURESThe ratings have been disclosed to the rated entity or its designated agent(s) and issued with no amendment resulting from that disclosure.Please see the ratings disclosure page on www.moodys.com.br for general disclosure on potential conflicts of interests.Entities rated by Moody's America Latina Ltda. and the rated entities' related parties may also receive products/services provided by parties related to Moody's America Latina Ltda. engaging in credit ratings activities within the 12 months preceding the credit rating action. Please go to the link http://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1267269 for a list of entities receiving products/services from these related entities and the products/services received.The date of the last Credit Rating Action for Celesc Distribuicao S.A was 19/06/2019.The date of the last Credit Rating Action for Centrais Eletricas de Santa Catarina S.A. was 19/06/2019.Moody's ratings are constantly monitored, unless designated as point-in-time ratings in the initial press release. All Moody's ratings are reviewed at least once during every 12-month period.Please see ratings tab on the issuer/entity page on www.moodys.com.br for the last rating action and the rating history. The date on which some ratings were first released goes back to a time before Moody's ratings were fully digitized and accurate data may not be available. Consequently, Moody's provides a date that it believes is the most reliable and accurate based on the information that is available to it. Please see the ratings disclosure page on our website www.moodys.com.br for further information.For any affected securities or rated entities receiving direct credit support from the primary entity(ies) of this credit rating action, and whose ratings may change as a result of this credit rating action, the associated regulatory disclosures will be those of the guarantor entity. Exceptions to this approach exist for the following disclosures, if applicable to jurisdiction: Ancillary Services, Disclosure to rated entity, Disclosure from rated entity.Regulatory disclosures contained in this press release apply to the credit rating and, if applicable, the related rating outlook or rating review.Moody's general principles for assessing environmental, social and governance (ESG) risks in our credit analysis can be found at https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1243406.Please see www.moodys.com.br for any updates on changes to the lead rating analyst and to the Moody's legal entity that has issued the rating.Please see the ratings tab on the issuer/entity page on www.moodys.com.br for additional regulatory disclosures for each credit rating. Cristiane Spercel VP - Senior Credit Officer Infrastructure Finance Group Moody's America Latina Ltda. 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