Fitch affirms Company SA

Fitch Ratings said it affirmed Company SA's foreign- and local-currency long-term issuer default ratings at B+ and its national long-term debt rating of A-(bra) for the five-year BRL75 million unsecured debentures due June 1, 2012.

The outlook is stable.

Ratings reflect the company's position as a Brazilian medium-size developer and builder of residential and commercial projects, its adequate financial structure, liquidity and moderate performance, the agency said.

Current challenges are associated with the recent changes of its operational strategy, Fitch noted.

For the 12 months ended June, total debt-to-EBITDA ratio grew to 4.2 times, against 3 times, on average, in the period 2005 to 2007.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.