S&P: BR Properties to positive

Standard & Poor's said it affirmed the BB global scale and brAA national scale ratings on BR Properties SA.

The agency also said it revised the outlook to positive from stable.

The positive outlook reflects an expectation that the company's debt metrics will improve while cash flow generation continues to increase as the company concludes capital expenditures and consolidates new properties into its portfolio, S&P said.

The company's stable and predictable cash flows offset tight interest coverage, the agency added.

The ratings also consider the risks inherent to the continued expansion through acquisitions and new developments, S&P added.

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