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Fitch gives BB to Arcos Dorados notes
Fitch Ratings said it assigned a BB rating to the proposed new sustainability-linked unsecured notes to be issued by Arcos Dorados BV.
The notes will be fully and unconditionally guaranteed by Arcos Dorados Holdings Inc.
Proceeds of the notes are for debt refinancing.
“Arcos Dorados' ratings reflect its solid business position as the sole franchisee of McDonald's restaurants across Latin America, benefiting from the iconic McDonald's brand,” Fitch said in a news release.
“The company is confronted by several economic challenges facing the region, as most of Arcos Dorados' EBITDA is generated in Brazil. The company's geographical diversification and presence in several countries in Latin America outside of Brazil and Argentina support the foreign currency IDR.”
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