Moody's rates B3 SA issue Ba1

Moody's Investors Service said it assigned a Ba1 global scale and Aaa.br Brazilian national scale rating to B3 SA – Brasil, Bolsa, Balcao's proposed local-currency debenture issuance.

The debentures will be issued in Brazilian real with a target issue amount of R$1.2 billion and the proceeds of the issue will be used for general corporate purposes, Moody's said.

The planned maturity of the debentures is 30 years, although they are subject to a scheduled renegotiation in their terms and conditions after three years, the agency said.

The ratings are supported by the bank's strong financial performance, high pre-tax margins and strong cash flow generation, Moody's said.

The national scale debenture ratings are already at the highest level on the national scale for Brazil, the agency noted.

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