Sabesp - Material Fact: Suspension of Cuts and Renegotiation of Commercial Customer Debts
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SÃO PAULO, Feb. 3, 2021 /PRNewswire/ -- Basic Sanitation Company of the State of São Paulo - Sabesp ("Sabesp" or "Company"), in compliance with the provisions of Article 157, Paragraph 4, of Law 6.404 / 76 and the provisions of Instruction 358 of the Brazilian Securities and Exchange Commission ("CVM"), dated January 3, 2002, as amended, informs to its shareholders and the market in general that, in a meeting held this morning, the Executive Board approved:
i) Suspend cuts and renegotiate debts for commercial and service customers residing in the operated municipalities that are in the orange and red phases of the São Paulo / COVID-19 Plan;
ii) The validity period will run from February 03, 2021 until March 31, 2021;
iii) The existing debts, including the agreements signed during the pandemic period, will be renegotiated without the application of a fine and interest, only monetary adjustment, according to the Company's policy and procedure;
iv) The term for installments will be 12 months, from the date of the renegotiation of outstanding balances;
v) The debtor will not be included in the credit protection register for debts until March 31, 2021;
vi) Debtors which may have been included in the credit protection register during the pandemic will be withdrawn immediately after the debt is renegotiated with Sabesp.
The Company will keep the market informed on the developments concerning this matter.
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